US SEC accepts Valkyrie’s Bitcoin ETF after BlackRock.

US SEC accepts Valkyrie's Bitcoin ETF after BlackRock.

The Rise of Bitcoin ETF Applications: SEC Takes the Blockchain Industry Seriously

Source: Pixabay / Michael Wuensch

The blockchain industry has been gaining significant attention in recent years, with the emergence of cryptocurrencies like Bitcoin (BTC) and the underlying technology that powers them. One of the latest developments in this space is the acceptance of Bitcoin exchange-traded fund (ETF) applications by the US Securities and Exchange Commission (SEC). In just a span of two weeks, the SEC has accepted multiple Bitcoin ETF applications, including those from BlackRock, Fidelity Investments, WisdomTree, VanEck, Invesco, ARK 21 Shares, and most recently, Valkyrie.

The SEC’s Second Spot Bitcoin ETF Application Acceptance

Valkyrie’s spot BTC ETF application has caught the attention of industry experts and investors alike. The filing includes a proposed rule change and lists Coinbase as the “surveillance partner” for the ETF. This partnership with a well-known stock exchange giant has sparked optimism within the crypto space. The SEC has initiated a 21-day public comment period for this application, inviting interested parties to provide their views and arguments on the proposal.

The acceptance of Valkyrie’s spot BTC ETF application is significant for the blockchain industry. It demonstrates that the SEC is taking Bitcoin ETF applications seriously, signaling a potential shift towards a more regulated and mainstream approach to cryptocurrency investments. A spot BTC ETF would provide investors with a regulated way to gain exposure to Bitcoin’s price movements, attracting both institutional and retail investors to the market.

The Impact on Bitcoin Price

The acceptance of BlackRock’s spot Bitcoin ETF filing by the SEC has already had an impact on Bitcoin’s price. Shortly after the announcement, Bitcoin’s price surged, crossing the $30,000 mark and maintaining a steady hold above it. While the price has experienced a slight drop in the last 24 hours, Bitcoin is currently trading at $30,048 at the time of writing.

The positive market response to Bitcoin ETF applications reflects the growing interest and confidence in the blockchain industry. Investors are recognizing the potential of cryptocurrencies as a legitimate asset class and are eager to participate in its growth. A regulated Bitcoin ETF would provide a more accessible and secure way for investors to engage with the market, offering exposure to Bitcoin’s price movements without the complexities of directly owning and managing digital assets.

The Future of Bitcoin ETF Applications

Following the conclusion of the public comment period for Valkyrie’s application, the SEC will review the ETF proposal and may request additional information from the applicant. This process ensures that the regulator thoroughly evaluates each application before making a final decision. While there is no guarantee of approval, the growing number of Bitcoin ETF applications being accepted for review by the SEC indicates a greater willingness to embrace cryptocurrencies within the traditional financial system.

In the event that a Bitcoin ETF is approved, it would mark a significant milestone for the blockchain industry. The ETF structure would allow investors to gain exposure to Bitcoin’s price movements without directly owning the underlying asset. This would simplify the investment process and attract a broader range of investors who may have been hesitant to enter the cryptocurrency market due to its perceived complexity and volatility.


The acceptance of Bitcoin ETF applications by the SEC is a positive development for the blockchain industry. It demonstrates a growing recognition of cryptocurrencies and their potential as an investment vehicle. A regulated Bitcoin ETF would provide investors with a secure and regulated way to participate in the market, attracting both institutional and retail investors. As the SEC continues to review and evaluate these applications, the future of Bitcoin ETFs remains an exciting prospect for the blockchain industry, paving the way for greater adoption and integration of cryptocurrencies into the traditional financial system.