The United States Securities and Exchange Commission (SEC) has accepted Valkyrie’s proposal for a spot Bitcoin exchange-traded fund (ETF) for official review. This marks the second spot Bitcoin ETF proposal being considered by the SEC, following the recent publication of BlackRock’s proposal. Valkyrie’s new filing represents their second attempt to launch a spot Bitcoin ETF, after facing regulatory challenges in their previous proposal, leading to the launch of a futures-based Bitcoin ETF in 2021. The proposed ETF, listed under the ticker symbol “BRRR,” aims to solely hold Bitcoin and will issue baskets in exchange for deposits of the Cryptocurrency is a form of digital or virtual currency that uses cryptography for security and operates independently of a central authority or traditional banking system. Cryptocurrencies leverage blockchain technology to gain decentralization, transparency, and immutability. Key Features: • Decentralization: Cryptocurrencies operate on a decentralized network of computers, meaning no central authority governs or regulates it. • Cryptography: Secure transactions and.... The public has a 21-day comment period to provide feedback on the proposal, while the SEC has up to 45 days to approve or disapprove the rule change. The growing interest and renewed optimism in spot Bitcoin ETFs have been fueled by BlackRock’s recent refiling for its spot BTC ETF, as well as ARK Investment Management’s application for a similar product.