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October 31, 2023

Valkyrie and Major Asset Management Firms File Updated Bitcoin ETF Prospectus, Increasing Approval Odds

Natasha Fernandez
Written byNatasha FernandezWriter
Researched byNikos PapadopoulosResearcher

Introduction

Valkyrie, along with other major asset management firms such as BlackRock, Fidelity, and Ark Invest, has filed an updated spot Bitcoin ETF prospectus in the United States. This move indicates that the U.S. Securities and Exchange Commission (SEC) is actively considering the approval of a spot Bitcoin ETF.

Valkyrie and Major Asset Management Firms File Updated Bitcoin ETF Prospectus, Increasing Approval Odds

The Prospectus Amendment Train

Valkyrie's spot Bitcoin ETF application has been updated in accordance with the requirements of the SEC. This follows similar amendments made by other spot Bitcoin ETF applicants. The filing process is ongoing, with discussions between the issuers and the SEC.

Increased Odds of Approval

Bloomberg analysts have raised the odds of spot Bitcoin ETF approval to 90%. This positive outlook comes after constructive talks between Ark Invest, 21Shares, and the SEC, which led to updates in the Bitcoin ETF prospectus.

SEC's Crucial Meeting

The SEC will hold its first closed meeting of the commissioners on November 2. The agenda includes resolving litigation claims and administrative proceedings. While it remains uncertain if the SEC will provide comments or further amendments in response to recent changes in spot Bitcoin ETF filings, it is likely that the SEC v. Ripple Labs case will be discussed during the meeting.

Conclusion

The filing of an updated spot Bitcoin ETF prospectus by Valkyrie, along with other major asset management firms, signals a significant step towards the approval of a spot Bitcoin ETF in the United States. With increased odds of approval and ongoing discussions with the SEC, the future of a spot Bitcoin ETF looks promising. Investors and industry participants should closely monitor the SEC's upcoming meeting on November 2 for further developments.

About the author
Natasha Fernandez
Natasha Fernandez
About

Natasha "CryptoQueen" Fernandez bridges the gap between blockchain buzz and casino charisma. From New Zealand's serene landscapes to the volatile world of crypto, she's making waves in the online gaming sphere. With CryptoCasinoRank, she paints a future where chips meet chains seamlessly.

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