After approving BlackRock’s spot Bitcoin ETF Application, the US SEC has acknowledged Valkyrie’s spot Bitcoin ETF application.
The U.S. Securities and Exchange Commission (SEC) has accepted the recently submitted Valkyrie spot Bitcoin (BTC) exchange-traded fund (ETF) applications and opened the public comment period before conducting their official review. It is the final one the SEC acknowledges as it continues its extensive review procedure.
The US SEC Accepts The Valkyrie Spot Bitcoin ETF
The US SEC accepted Valkyrie spot Bitcoin ETF’s proposed rule change to list and trade on Nasdaq on July 17, per an official filing. The deadline for public comments is 21 days following publication in the Federal Register. After soliciting general feedback, the U.S. will officially commence its review process.
Bloomberg’s senior ETF analyst Eric Balchunas took to Twitter to announce that the US SEC has approved Valkyrie’s spot Bitcoin ETF application. In addition, Valkyrie was the last applicant for a spot in Bitcoin ETF amid a surge of applications. He also mentioned the identifier “BRRR” chosen by the Valkyrie Bitcoin ETF for listing on the Nasdaq.
The US SEC has accepted BlackRock’s application for a Bitcoin spot ETF. Fidelity Investments, WisdomTree, VanEck, Invesco, and ARK 21Shares may also submit Bitcoin ETF applications.
This unequivocally demonstrates that the regulator is treating the applications seriously, with the approval of a Bitcoin ETF being yet another remarkable victory for the cryptocurrency market.
Acceptance of Bitcoin ETF Applications is Bullish For BTC Price
BlackRock’s spot Bitcoin ETF filing prompted a slew of other spot Bitcoin ETF filings, which caused the price of Bitcoin to increase. As investors await Bitcoin ETF filings news, the Bitcoin price has again surpassed the $30,000 threshold and is currently trading above it.
The price of Bitcoin has decreased by 1% over the past twenty-four hours and is currently trading near $30,000. The low and high for the past 24 hours are $29,685 and $30,330, respectively. Moreover, the trading volume has increased by 68% in the previous twenty-four hours, indicating traders’ interest.
