On May 6, Valkyrie’s Bitcoin spot EFT received approval from the U.S. Securities and Exchange Commission (SEC). This came after the validation of Bitcoin Teurcium futures ETFs last April.
Is this the beginning of a long series of green lights?
History tells us that Bitcoin futures ETFs have been approved by the SEC in the past. If you seem confused by the terms “Bitcoin futures ETF” and “Bitcoin spot ETF”, this Cointribune article will be of great help to you.
Otherwise, he should be informed that the process for seeking approval must be filed under Securities Exchange Act of 1934, based on Form 19b-4.
When it comes to viewing Bitcoin ETFs, it is absolutely essential to use this form. However, at present, no validation of bitcoin-backed ETFs has taken place.
But, a month ago, the SEC approved Bitcoin Teucrium futures on ETFs. And that seems like a good sign for investors.
Valkyrie’s application was filed in August 2021
It’s 9 months since Valkyrie filed with SEC approval for its Bitcoin ETF spot. To say that Bitcoin ETFs spot, meanwhile, has never been recognized by the American agency, although they have enjoyed considerable support from the crypto community.
A NASDAQ survey on the potential implications of the Bitcoin EFT spot revealed that their, the King of Crypto and other cryptocurrencies will be a more mainstream investment. They may be recommended by financial advisers as soon as you complete this step.
Legion are the observers who believe in CSS approval of bitcoin EFT spot by mid-2023. This hypothesis has already been advanced by Eric Balchunas and James Seyffart, analysts at Bloomberg for some time. However, their prediction would depend heavily on the implementation of a new amendment. However, the financial advisors who contributed to this survey do not share this opinion. Only 38% vote “yes” and 31% do “no”.
Does the SEC seem reluctant to approve Bitcoin ETFs? Because of this, it is making sure that the study period of the files given to its agents is extended. Do you remember Grayscale’s threat to take legal action against him for fear of delay? What did she do with the point that Bitcoin ETFs would give new approvals in the offer?
Source: BTC Times
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