U.S. regulator approves Valkyrie Bitcoin futures ETF

U.S. regulator approves Valkyrie Bitcoin futures ETF

Valkyrie’s offer is only available to accredited investors within the Valkyrie Bitcoin Strategy ETF (BTF) and the Valkyrie Bitcoin Trust (VBTC) exchange-traded fund.

Valkyrie Chief Investment Officer Steven McClurg explained that the company filed the application citing provisions in the Securities Exchange Act of 1934, which, unlike the Investment Company Act of 1940, can be applied to spot ETFs.

Previously, all applications for approval of spot Bitcoin ETFs have, without exception, been rejected by the SEC for various reasons as too risky for investors. 

Grayscale Investments CEO Michael Sonnenshein said that the SEC’s decision weakens the regulator’s argument for denying approval of spot Bitcoin ETFs and gives the industry hope.

An ETF is a special form of investment that tracks the price of an asset or group of assets. ETFs are an easy way to invest in multiple assets at once without actually owning them.

This week, Cryptocurrency asset manager Valkyrie Investments announced the launch of another new product for accredited investors with a focus on the Avalanche network’s native token, Valkyrie Avalanche Trust (VAVAX).

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Written by Renat
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