Digital asset management firm, Valkyrie Investments, has updated its filing for a bitcoin spot exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC).
The revised registration statement is aimed at offering shares of the Valkyrie Bitcoin Fund. The fund will directly hold bitcoin if given the green light. The proposed ETF is expected to trade under the ticker “BRRR” on the Nasdaq.
However, Valkyrie clarified that the filing is incomplete and the shares are not available for sale at this point. The amendment comes after the SEC delayed its decision on Valkyrie’s bitcoin ETF proposal in September.
The company is not alone in this endeavor. Six other firms, including finance giants Fidelity and BlackRock, have recently revised their bitcoin ETF filings. This surge of updates is viewed as a potential indicator of progress towards long-anticipated approvals.
The SEC is currently reviewing an expanding list of bitcoin spot ETF applications. According to SEC chair Gary Gensler, there are about 8 to 10 such proposals before the regulator.
As deadlines in January and February draw near, the SEC is under mounting pressure to finally approve a spot bitcoin fund. So far, all applications have been rejected. These amendments suggest ongoing behind-the-scenes discussions that may move regulators closer to a landmark decision.
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