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SEC Approves Valkyrie Bitcoin Futures ETF

SEC Approves Valkyrie Bitcoin Futures ETF

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Answer SEC Approves Valkyrie Bitcoin Futures ETF

The US Securities and Exchange Commission has approved another proposal regarding the Bitcoin ETF for futures.

According for the official document As published, Valkyrie’s XBTO Bitcoin futures fund is the latest product to be approved by the US Securities and Exchange Commission (SEC).

The Valkyrie XBTO Bitcoin Futures Fund was first introduced in August 2021.

But the launch date has not been revealed.

Unlike its counterparts in Canada, Europe and Latin America, the US regulator has refrained from approving any spot bitcoin ETF, citing that the bitcoin market lacks monitoring and may be vulnerable to manipulation.

Bloomberg analyst James Seifart noted that the latest approval, whose file falls under the Securities Act of 1933, may pave the way for the much-anticipated immediate ETF.

Read:Ghana begins experimenting with central bank digital currency

In March, the SEC rejected two proposals:

NYDIG Bitcoin ETF and Global X Bitcoin Trust

The two aims to list and trade bitcoin exchange-traded funds (ETFs).

Earlier, Grayscale CEO Michael Sonninchin confirmed that his company has all options on the table when it comes to fighting for immediate Bitcoin ETF approval which may also include taking legal action against the SEC.

In a recent interview with Anthony Pompliano, a Bitcoin supporter, Sonninchin said that approval of the spot Bitcoin ETF is still only a matter of time, not a question of whether or not it will be, quoting his statement:

It’s hard to put a time frame for that.

We will continue to defend our investors until this approval is obtained.

In the five or six years that we’ve been dealing with the SEC and regulators in general, a lot has changed.

Let’s remember that, they have a difficult task.

It’s hard as a regulator to set up really good regulations when the industry and the asset class it’s under keeps changing.

Read:The Secret Behind Coinbene’s Cryptocurrency Trading Volume Overtaken Binance

Read also:

Bitcoin adoption is expanding: house sale in Portugal for 3 bitcoins and no euro conversion

OpenSea’s Discord channel hacked, hackers are promoting NFT scams through it


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