US SEC Gives Valkyrie the Green Light with its Bitcoin Futures ETF


The US Securities and Exchange Commission, or SEC, has purportedly approved Valkyrie’s futures exchange-traded fund (ETF) proposal, a month after it has the green light to Teucrium’s, which is the first of such product to be approved under the ’33 Act. This proves yet again that the SEC is now more open to approving ETFs – albeit only futures ETFs with no sign of spot ETFs still, to the dismay of many.

According to the Thursday document published by the SEC itself, Valkyrie’s ETF application was filed under the Securities Exchange Act of 1934 via a 19b-4 form, the very same law that spot Bitcoin ETF supporters are desperately relying on. Originally filed back in August 2021, Valkyrie’s ETF, the Valkyrie XBTO Bitcoin Futures Fund, tracks BTC futures contracts, much like any other investment vehicle of the same kind.

The past year has seen several companies all vying for the approval of their respective ETF proposals. That being said, many have since withdrawn their applications, such as Bitwise, to redirect their efforts to a spot fund instead, which, again, is seemingly still not in the minds of the regulator as a product worthy of their approval.

The fact that Valkyrie’s ETF application got approval via the law to which all spot ETF applications have been filed rekindled the hopes of those eagerly convincing the US SEC that such is just as good as futures ETFs.


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