Valkyrie Investments files for Bitcoin ETF.

Valkyrie Investments has taken significant steps to establish its presence once again amidst a surge of activity in the ETF space. A subsidiary of Valkyrie Investments Inc. based in Delaware has filed an updated spot ETF proposal, which has changed the intended exchange to Nasdaq and the ticker to $BRRR.

The company already has a bitcoin futures ETF product listed on Nasdaq and has been closely monitoring the developments in the industry, paying particular attention to other firms entering the ETF market. BlackRock, the world’s largest asset manager, filed a spot bitcoin ETF application, taking advantage of recent regulatory scrutiny to facilitate its entry into the market. BlackRock’s move, being a prominent player in traditional finance, indicates the growing acceptance and interest in bitcoin among institutional investors.

WisdomTree, an asset management company, has also submitted an application for a spot Bitcoin ETF. This application highlights the increasing competition among firms aiming to launch bitcoin ETFs as they recognize the demand for regulated investment products in the space and the first-mover’s advantage possible.

Additionally, Bitwise filed a 19b-4 form to renew their spot bitcoin ETF filing, while Invesco renewed their filing for a spot bitcoin ETF.

As firms like Valkyrie, BlackRock, Bitwise, Invesco, and WisdomTree enter the race for ETF approval, they all aim to provide investors with more accessible and regulated avenues to participate in the bitcoin market. These developments highlight the continued growth and maturation of the bitcoin industry, with ETFs emerging as an essential tool for investors seeking exposure to bitcoin in a regulated manner, albeit at the cost of certain properties inherent only to native bitcoin.