Valkyrie Investments Amends Spot Bitcoin ETF Filing, Joining a Growing Trend

Valkyrie Investments, a digital asset manager, has joined the list of firms amending their spot Bitcoin exchange-traded fund (ETF) filings with the U.S. Securities and Exchange Commission (SEC). On October 30, Valkyrie filed an updated spot Bitcoin ETF with the SEC, seeking to provide investors with an opportunity to invest in common shares backed by Bitcoin. These shares represent fractional ownership in a trust and are expected to trade under the ticker symbol “BRRR” on the Nasdaq Stock Market.

The filing acknowledges that the information in the prospectus is not complete and may be subject to changes. Valkyrie cannot sell BRRR securities until the registration statement becomes effective. This amended filing comes roughly a month after the SEC delayed its decision on the Valkyrie Bitcoin Fund in late September.

Valkyrie’s move to amend its spot Bitcoin ETF filing is part of a growing trend in the industry. At least six other well-known companies, including Bitwise, BlackRock, Fidelity, Grayscale, VanEck, and ARK Invest, have made similar amendments to their spot Bitcoin ETF filings. According to analysts, these ongoing amendments can be seen as a positive sign of progress and potential approvals in the future. This latest update from Valkyrie is evidence of behind-the-scenes developments in the push for Bitcoin ETFs.

While some firms have made amendments to their filings, others have yet to do so. Notably, WisdomTree, Invesco, Galaxy, Global X, Hashdex, and Franklin Templeton have not updated their filings. The SEC is currently considering eight to ten filings for possible spot Bitcoin ETFs, with SEC Chair Gary Gensler stating this in late October. The crypto community continues to closely watch these developments, as the approval of a Bitcoin ETF in the United States is seen as a significant step for the cryptocurrency industry.

By Urik

My professional background is in public relations and I am the founder of Cryptochating. My journey into blockchain technology started four years ago, and I haven't looked back since then. The future of decentralized technology is incredibly fascinating to me, and I am passionate about communicating how it will change the world.

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