On Wednesday, Valkyrie Funds, a Tennessee-based asset manager offering a bitcoin futures exchange-traded fund (ETF), a defi fund, and a bitcoin mining industry ETF, filed with the U.S. Securities and Exchange Commission (SEC) for the launch of a spot bitcoin ETF.
SEC Flooded With Spot Bitcoin ETF Applications as Valkyrie Funds Steps Into the Ring
Numerous market players are vying for the SEC’s approval of a spot bitcoin ETF. This rush for approval began after Blackrock, the world’s largest asset manager, filed to offer a spot bitcoin ETF with the SEC. To date, the SEC has not approved any spot bitcoin ETFs and has rejected several applications over recent years. Companies are permitted to provide futures-based ETFs, and several debuted in the last quarter of 2021, including Valkyrie’s Bitcoin Strategy ETF.
On June 21, 2023, Valkyrie submitted an application to the SEC for its spot bitcoin ETF named “Valkyrie Bitcoin Fund.” The ticker symbol will be “BRRR,” and it will uti

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