The US investment company Valkyrie has filed an application for a Bitcoin ETF with the American SEC. This is evident from a registration form dated January 22nd.
The US asset manager Valkyrie Digital Assets wants to usher in the next step in Bitcoin adoption
The mutual fund recently filed an application for a Bitcoin Pro with the US Securities and Exchange Commission (SEC). Valkyrie thus documents the latest case in which an investment company tried to register an ETF based on digital gold. So far, however, all attempts at the SEC have failed.
Valkyrie Digital Assets is a subsidiary of Valkyrie Investments. Specifically, the “Valkyrie Bitcoin Fund” is to be deposited “physically” through Bitcoin. The American crypto exchange Coinbase serves as custodian. The S-1 form states the investment objective:
The investment objective of the trust is that the shares will reflect the performance of a bitcoin as represented by the index, less the liabilities and expenses of the trust.
VanEck also with an application for Bitcoin ETF
But Valkyrie is not alone in this. With VanEck, the competition even comes from within the country. The investment company with headquarters in New York even registered its Bitcoin ETF before the turn of the year . VanEck had previously failed in 2019 with a corresponding application to the SEC. In return, Germany was able to look forward to the introduction of a Bitcoin ETN on the Xetra exchange. BTC-ECHO found out in an interview that the US asset manager likes to compare Bitcoin with gold .
New SEC boss is considered crypto-savvy
The recent rumors about the appointment of the new SEC chief under the Biden administration are likely reasons for cautious optimism. As reported by BTC-ECHO , among others , US President Biden plans to appoint the economist Gary Gensler as the new chairman of the tax authority. Gensler was previously chairman of the Commodity Futures Trading Commission (CFTC). He is considered an expert in the crypto sector and with his expertise could significantly contribute to the introduction of a solid Bitcoin ETF.