The SEC is extending the deadline for the Valkyrie Bitcoin ETF decision to 2022 and is postponing it again despite the recently approved futures ETFs, so find out more in our latest Bitcoin news today.

Securities and Exchange Commission – SEC extends decision deadline on proposed Valkyrie Bitcoin Fund to January 7, 2022, the statement said:

“The Commission considers it appropriate to set a longer period of time to issue an order approving or rejecting the proposed rule change in order to have sufficient time to review the proposed rule change and the issue has been addressed in the comments sent. . “

This isn’t the first time the Valkyrie Bitcoin Fund has faced delays in SEC approval, which was originally delayed back in June this year. Financial services firm Valkyrie Funds LLC is again waiting for the recent U.S. pivot on exchange-traded BTC funds to get approval for a Bitcoin futures ETF, but not a Bitcoin futures ETF. Valkyrie received the green light for its Bitcoin futures ETF after the ProShares and VanEck futures ETFs received theirs. However, the Valkyrie BTC fund is a spot ETF, which means it is subject to a different approval process than the SEC and faces a different regulatory challenge.

A note on Bitcoin ETFs: The SEC has no way of “announcing” anything.

The way it works – in the case of ETF futures – is a negative consensus model. A company files a corporation and if the SEC doesn’t object within 75 days, that’s fine.

ProShares was the first to apply and will therefore be shortlisted first

– Jeff Roberts (@jeffjohnroberts) October 15, 2021

The BTC fund is the company’s spot ETF, which means that the fund offers its customers stocks that are backed by an underlying asset, in this case Bitcoin. This is different from futures ETFs like the Valkyrie Bitcoin Strategy ETF, which offer clients stocks that are tied to contracts to buy BTC in the future. Given the difference between the two funds, the BTC Valkyrie fund will find it more difficult to obtain potential approval than its future counterpart. For ETF futures, the SEC operates in a negative constant pattern, which means that ETF futures will be approved if the SEC does not disagree with the product within the timeframe. Spot ETFs, on the other hand, require different SEC approval.

As recently reported, the underlying concept of the Valkyrie Innovative Balance Sheet ETF is quite interesting, and the crypto-investment firm has filed a prospectus with the Securities and Exchange Commission. As the name suggests, an ETF is an investment product made up of bonds, stocks and commodities that are traded like stocks on a stock exchange. ETFs can easily be traded during the day and are therefore very attractive to investors.