Crypto asset manager Valkyrie updates its Bitcoin ETF filing

Progress and impending approvals

Digital asset manager Valkyrie Investments has made amendments to its spot Bitcoin exchange-traded fund (ETF) filing with the US Securities and Exchange Commission (SEC), joining several other firms in the process. The updated filing aims to offer investors an opportunity to invest in common shares backed by Bitcoin and will be traded on the Nasdaq Stock Market. Valkyrie's move is seen as a positive sign of progress and impending approvals in the crypto ETF space.

Amended filings by other firms

Valkyrie's updated spot Bitcoin ETF filing follows similar moves by Bitwise, BlackRock, Fidelity, Grayscale, VanEck, and ARK Invest. These amendments indicate movement happening behind the scenes and provide further evidence that the approval of Bitcoin ETFs may be on the horizon.

Remaining filings

While Valkyrie and other firms have updated their spot Bitcoin ETF filings, several others, including WisdomTree, Invesco, Galaxy, Global X, Hashdex, and Franklin Templeton, have not yet made any amendments. It remains to be seen how these filings will progress and whether they will also be updated in the future.

Regulatory consideration

The SEC currently has between eight to ten filings of potential spot Bitcoin ETFs awaiting regulatory consideration. SEC chair Gary Gensler has acknowledged the existence of these filings and the regulator is expected to make decisions on them in due course.