The SEC Approved Valkyrie’s Bitcoin Futures ETF: Report

The sEC approved Valkyrie’s Bitcoin futures ETF XBTO and it is the latest ETF to secure approval from the regulator so let’s read more today in our Bitcoin latest news.

The SEC approved Valkyrie’s Bitcoin futures ETF as it was initially filed in August 2021 and the approval follows that of Teucrium but the launch date hasn’t been disclosed yet. Unlike its European, Canadian, and Latin American counterparts, the US regulatory watchdog refrained from approving any physically-backed ETF and cited that the BTC market lacks surveillance and could be subject to manipulation. However, the analyst from Bloomberg James Seyffarts noted that the approval of Teucrium whose filing falls under the Securities Act of 1933 could pave the way for a spot BTC ETF.

The SEC rejected two proposals from Global X Bitcoin Trust, and NYDIG Bitcoin ETF to list and trade shares of spot BTC Exchange-traded funds.
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The CEO of the world’s leading asset manager grayscale, Michael Sonnenshein asserted that the company has the options laid out ont the table when it comes to fighting for an ETF approval which could include even taking furhter legal action against the SEC. In an interview with Anthony Pompliano, Sonnenshein said the spot BTC ETF continued to be a matter of when and not of if:

“It is tough to put a timeframe on it. We will continue to advocate on behalf of our investors until that approval comes through. In the five-six years that we have been dealing with the SEC and regulators more generally, a lot has changed. Let’s remember that, they have a tough job. It is tough as a regulator to develop really good regulations when the industry and the asset class underneath it, continues to change.”

The Valkyrie Capital BTC mining ETF focused on renewable energy has recently been approved by the US SEC and it is set to go live today under the ticker “WGMI” which is a crypto community acronym for “We Are Gonna Make It.” The Valkyrie Bitcoin Mining ETF’s biggest holdings are Argo Blockchain, Cleanspark, Hive Blockchain, Bitfarms, and Stronghold Digital Mining. Valkyrie Capital CEO Leah Wald said that the investors have an increased focus and desire to gain more exposure to BTC miners and Wald also cited the exodus of BTC miners from China to places such as New York and Washington state as a new reason behind the ETF.