2021 was an explosive year for Bitcoin as the crypto asset hit new all-time highs as demand for cryptocurrencies soared. Meanwhile, a number of crypto advocates are expecting the first Exchange Traded Fund (ETF) to be approved this year as a number of companies battle to launch an ETF. On Friday, Texas-based company Valkyrie Digital Assets submitted an ETF registration proposal called Valkyrie Bitcoin Trust in hopes of listing the fund on the New York Stock Exchange (NYSE).
Now, another company has joined the Bitcoin ETF race when Texas-based Valkyrie Digital Assets signed up for a Bitcoin fund on Friday, January. Valkyrie states in the filing that the Trust intends to list the shares on the NYSE Arca. After the filing was public, crypto advocates discussed the new ETF listing on social media. For example the crypto CFA James Seyffartspoke about Valkyrie’s ETF registration and told his 3,800 Twitter followers he was expecting approval for the Bitcoin ETF this year.
“And there is another participant in the Bitcoin ETF Race:Seyffart said. A list of all companies applying for a Seyffart exchange traded fund continues to be displayed wrote: “The current state of the Bitcoin ETF race with a new late entrant. Important note: As far as I can tell, no 19b-4s were submitted. These are the filings that this 240-day clock begins to use for the SEC to make a decision. “ Seyffart added::Putting my neck out a bit – I think we’ll see a U.S. Bitcoin ETF in 2021 if Gensler is confirmed to head the SEC. The guy is very knowledgeable about blockchain / crypto. He even teaches a class on the subject at MIT. Even so, I think you can expect new regulations for the crypto room from the SEC. Do not think that we will see outright bans as some Bitcoin bears like to claim. But we will definitely see increased scrutiny and regulation, as Mike McGlone has also explained.
Valkyrie believes the ETF will provide investors with a more accessible investment method BTC. “The purpose of the trust is to hold bitcoins, a digital commodity based on the cryptographic protocols used by the decentralized peer-to-peer bitcoin computer network.” the Valkyrie filing states.
The filing of the Valkyrie ETF emphasizes that investing in the trust involves significant risk. Valkyrie’s Bitcoin fund registration further underscores that the fund may not be suitable for Shareholders who cannot take additional risks.