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Bitcoin ETF Hype Picks Up Steam as Valkyrie Refiles Its Proposal

Wed, 07/05/2023 - 16:40
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Alex Dovbnya
The refiling comes amid brewing expectations for an upcoming meeting between the SEC and Bitcoin ETF applicants that could potentially shape the future of cryptocurrency investment
Bitcoin ETF Hype Picks Up Steam as Valkyrie Refiles Its Proposal
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The anticipation around Bitcoin exchange-traded funds (ETFs) continues to grow as Valkyrie Digital Assets refiles its 19b-4 form with the U.S. Securities and Exchange Commission (SEC).

As confirmed by Eric Balchunas, a renowned ETF analyst, the updated filing includes a definitive Service Level Agreement (SLA) with Coinbase.

This move seems to mirror BlackRock's tactics, which also emphasized its partnership with the digital currency exchange, known as the largest spot Bitcoin exchange in the U.S.

A significant meeting with the SEC looms

Adding to the suspense, an upcoming meeting between spot Bitcoin ETF applicants and the SEC is expected to provide critical insight into the future of Bitcoin ETFs.

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Bias Knox, a securities lawyer, suggests that the meeting should clarify whether the spot ETF holds potential, although it would likely necessitate amendments to the existing safeguarding rule. With fees in the industry collapsing, the lending markets could delineate winners from losers, Knox speculates.

Balchunas emphasized the speculative nature of the reports, stating, "Just to be clear, we can't 100% confirm this is true! Just trying to share things we find interesting or useful in all this from legit sources."

In any case, enthusiasts and investors alike will be closely monitoring these developments in the Bitcoin ETF space. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at