US SEC Accepts Valkyrie Spot Bitcoin ETF Application

The U.S. Securities and Exchange Commission (SEC) has accepted the recently filed Valkyrie spot Bitcoin (BTC) exchange-traded-fund (ETF) applications and opened the public comment period to get feedback before conducting their official review. It’s the last one acknowledged by the SEC as it moves ahead with its lengthy review process.

Valkyrie Spot Bitcoin ETF Accepted by the US SEC

According to an official filing on July 17, the US SEC accepted Valkyrie spot Bitcoin ETF for a proposed rule change to list and trade it under Nasdaq. The public comments are due 21 days after publication in the Federal Register. The US will officially begin its review process after soliciting public comments.

Eric Balchunas, a senior ETF analyst of Bloomberg, took to Twitter to share that the spot Bitcoin ETF application submitted by Valkyrie is confirmed by the US SEC. Also, Valkyrie was the last one to apply for a spot Bitcoin ETF amid a wave of spot Bitcoin ETF applications. He also noted the ticker “BRRR” selected by Valkyrie Bitcoin ETF for Nasdaq listing.

US SEC has already accepted the BlackRock spot Bitcoin ETF application. Other Bitcoin ETF filings by Fidelity Investments, WisdomTree, VanEck, Invesco, and ARK 21Shares are also accepted. This clearly indicates that the regulator is taking the applications seriously, with a spot Bitcoin ETF approval to be another remarkable victory for the crypto market.

Read More: Judge Netburn Orders US SEC And Ripple For Settlement, What It Means For XRP?

Spot Bitcoin ETF Application Acceptance Bullish For BTC Price

Bitcoin price started rallying after spot Bitcoin filing by BlackRock led to a number of spot Bitcoin ETF filings. Bitcoin price again crossed the 30,000 level and currently holds above it as investors await Bitcoin ETF filings news.

BTC price fell 1% in the last 24 hours, with the price currently trading near the $30,000 level. The 24-hour low and high are $29,685 and $30,330, respectively. Furthermore, the trading volume has increased slightly by 68% in the last 24 hours, indicating an interest among traders.

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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