SEC Raises Hopes by Approving Valkyrie’s Bitcoin Future ETF

• In accordance with the 1933 Act, Valkyrie is said to have submitted this application.
• Michael Sonnenshein was certain that he would get a green light this time.

Despite displaying some acceptance of cryptocurrencies, authorities have yet to warm up to the items that surround these digital currencies. For a long time, authorities refused to allow Bitcoin ETFs. Finally, US authorities demonstrated that they were progressively catching on to the crypto-rhythm verse by approving a second Bitcoin futures ETF. The SEC approved Valkyrie’s Bitcoin futures ETF after Teucrium’s approval. In accordance with the 1933 Act, Valkyrie is said to have submitted this application.

Others Waiting Their Chance

A few others were waiting for their permission as the community celebrated this victory. This was a list of people who have applied for Bitcoin spot ETFs. While recently speaking with Grayscale CEO Anthony Pompliano, Michael Sonnenshein discussed the pending Bitcoin spot ETF application. However, he was certain that he would get a green light this time.

According to Securities Act 33, both of the aforementioned Bitcoin future ETFs have been given the go light. Spot ETFs are relying on the same principle. Sonnenshein feels that the spot ETFs may have a chance with this clearance.

The Grayscale CEO stated:

“They do need to understand that if they don’t bring this under their purview and allow this to become an ETF have investors have that familiarity have that protection that the ETF wrapper provides they’re really not fulfilling their mandate in protecting investors.”

In addition, authorities must keep up with the latest developments in cryptocurrency demand if they are to remain effective. The SEC, he said, was putting in improved rules for the crypto-verse by highlighting the same.