Crypto asset manager Valkyrie amends spot Bitcoin ETF filing
Crypto asset manager Valkyrie has made amendments to its spot Bitcoin exchange-traded fund (ETF) filing. This move comes as Valkyrie and VanEck join at least six other firms that have made similar changes to their spot BTC ETF filings. However, there are still five other spot Bitcoin ETF filings that are yet to be amended.
Spot Bitcoin ETF filings
The Securities and Exchange Commission (SEC) in the United States has been inundated with filings for spot Bitcoin ETFs this year. These filings aim to offer Bitcoin exposure to investors through the traditional ETF structure. However, the SEC has not yet approved any of these proposals.
Valkyrie had initially filed for a spot Bitcoin ETF back in January 2021. However, the company recently made amendments to this filing. By making these amendments, Valkyrie is hoping to address the concerns raised by the SEC and increase the likelihood of approval for its Bitcoin ETF.
Amendments by Valkyrie
The specific details of Valkyrie’s amendments to its spot BTC ETF filing have not been disclosed. However, it is common for firms to provide additional information on topics such as pricing, liquidity, custodianship, and surveillance measures in their amended filings. These amendments aim to address any regulatory concerns that may have been raised by the SEC.
Valkyrie is just one of many firms that have made similar amendments to their Bitcoin ETF filings recently. VanEck, ProShares, Invesco, and others have also made changes to their initial filings in hopes of addressing SEC concerns and increasing the chances of approval for their respective ETFs.
Still awaiting amendments
While some firms have made amendments to their Bitcoin ETF filings, there are still five other spot BTC ETF filings that have not been amended as of yet. It remains to be seen whether these firms will make changes to their initial filings or if they are confident enough in their proposals to proceed without amendments.
The SEC has been cautious about approving spot Bitcoin ETFs due to concerns regarding market manipulation and investor protection. The agency has requested more information and data from the firms involved in these filings to ensure that the proposed ETFs meet the necessary regulatory standards.
Conclusion
Valkyrie’s recent amendments to its spot Bitcoin ETF filing, along with similar moves by other firms, demonstrate the ongoing efforts to address SEC concerns and gain approval for Bitcoin ETFs. These amendments aim to provide additional information and measures to ensure investor protection and regulatory compliance. With the popularity of Bitcoin and the demand for regulated investment vehicles, it is likely that more firms will continue to pursue spot Bitcoin ETFs and make necessary amendments to meet the SEC’s requirements.