The US Securities and Exchange Commission has another proposal for a futuresBitcoin– ETF approved.
According to the official document, Valkyrie’s XBTO Bitcoin Futures Fund is the latest such product to receive SEC approval.
- The Valkyrie XBTO Bitcoin Futures Fund was first filed in August 2021 and its approval follows that of Teucrium. However, the launch date has not yet been announced.
- Unlike their Canadian, European, and Latin American counterparts, the US regulator has refrained from approving physically-backed ETFs because the Bitcoin market is not monitored and potentially open to manipulation.
- However, Bloomberg analyst James Seyffart speculated that the approval of Teucrium, whose filing falls under the Securities Act of 1933, could potentially pave the way for a much-anticipated spot Bitcoin ETF.
- In March, the SEC rejected two proposals — the NYDIG Bitcoin ETF and the Global X Bitcoin Trust — to list and trade shares of spot bitcoin exchange-traded funds.
- Earlier, the CEO of the world’s leading wealth manager Grayscale – Michael Sonnenshein – claimed that his company had “all options on the table” when it comes to fighting for Bitcoin ETF approval, which includes taking legal action against the SEC may include.
- In a recent interview with the Bitcoin-Proponent Anthony “Pomp” Pompliano told Sonnenshein that a spot Bitcoin ETF remains a matter of when, not if.
“It is difficult to set a time frame for this. We will continue to advocate on behalf of our investors pending this approval. A lot has changed in the five to six years that we’ve been dealing with the SEC and regulators in general. Let’s remember, they have a tough job. As a regulator, it’s difficult to come up with really good regulations as the industry and underlying asset class continue to evolve.”
Source: Crypto News Deutsch