Key Points:
This move is notably two weeks ahead of the planned launches by the other 13 ETFs that have submitted applications for similar offerings. Valkyrie‘s current Bitcoin Strategy ETF, launched in 2021, primarily invests in Bitcoin futures contracts and is available through Nasdaq.
Bloomberg’s Senior ETF Analyst Eric Balchunas highlighted that Valkyrie’s proposed early launch might be a strategic maneuver to outpace the competition. The proposed date aligns with Valkyrie’s ongoing efforts to enhance its ETF offerings.
Valkyrie resubmitted its Bitcoin ETF proposal on June 21, shortly after BlackRock‘s proposal. It’s worth noting that Valkyrie humorously adopted the ‘BRRR’ ticker, referencing a popular meme that represents the sound of money printing.
Additionally, the firm adjusted its filing to include crypto exchange Coinbase as a “surveillance-sharing” partner, drawing parallels with BlackRock’s proposal.
The filing’s listing on the SEC’s official calendar initiates the comment period, allowing the public and institutions to express their opinions on various aspects, including market impact and investor protection.
This development coincides with ProShares and Bitwise submitting ETF applications to the U.S. Securities and Exchange Commission on Friday.
The applications aim to provide exposure to both Bitcoin and Ether, signaling a growing interest in cryptocurrency ETF offerings.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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