The United States Securities and Exchange Commission (SEC) may approve a request from Valkyrie, a crypto-asset manager, for a Bitcoin exchange-traded fund or ETF. The shares will be listed on the Nasdaq Stock Market.
The SEC sent an Oct. 15 notice confirming that it had accepted the registration of Valkyrie’s Bitcoin Strategy ETF shares for listing on Nasdaq. Eun Ah Choi, the vice president of listing qualifications at Nasdaq, sent a similar day’s letter to inform the exchange that Valkyrie’s Bitcoin ETF shares have been certified.
Related: New tickers and Ark filings show Bitcoin futures ETF approval imminent. Analyst
According to Valkyrie’s Aug. 11 prospectus filed with the SEC Valkyrie stated that its Bitcoin Strategy ETF would provide indirect exposure to the cryptocurrency asset through cash-settled forwards contracts. The contracts will be bought using a Cayman Islands-based affiliate that is owned 100% by the fund and registered on exchanges with the U.S. Commodity Futures Trading Commission.
SEC must approve Valkyrie’s ETF application by Oct. 25, although it could extend this deadline to Dec. 8. The federal agency is currently reviewing applications for Bitcoin futures ETFs by VanEck, ProShares and Invesco.
Eileen Wilson –Technology and Energy
My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.