The United States Securities and Exchange Commission (SEC) could soon approve an application for a Bitcoin Exchange Traded Fund (ETF) from crypto asset manager Valkyrie, whose shares are listed on the stock exchange.

The agency has accepted an application to register shares of Valkyrie’s Bitcoin Strategy ETF for listing on the Nasdaq, according to a release from the SEC on October 15.

In a letter filed on the same day from Nasdaq’s vice president of listings, Eun Ah Choi, the exchange announced that Valkyrie’s bitcoin ETF shares have been certified.

In a prospectus dated Aug. 11 with the SEC, Valkyrie said its Bitcoin Strategy ETF will offer indirect exposure to crypto assets with cash settled futures contracts. The contracts are acquired through a wholly-owned subsidiary in the Cayman Islands, whose exchanges are registered with the US Commodity Futures Trading Commission.

The deadline for the SEC’s official approval of Valkyrie’s ETF application is October 25, but could be extended to December The agency is currently reviewing ETF applications for Bitcoin futures from VanEck, ProShares, Invesco, and others.

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Annie

According to Cointelegraph

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