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Grayscale, ARK Invest, Valkyrie File Security Registration Forms for Spot Bitcoin ETF
Last updated: January 5, 2024 00:55 EST . 1 min read
Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.
Source: DALL·EGrayscale, ARK Invest, and Valkyrie have submitted forms for spot Bitcoin exchange-traded fund (ETF) security registration with the U.S. Securities and Exchange Commission (SEC).
According to Radar, major spot Bitcoin ETF issuers Grayscale, ARK Invest and 21Shares, and Valkyrie have filed Form 8-A with the SEC for their ETFs. The Form 8-A is for “registration of certain classes of securities” submitted by the pursuant.
The SEC require the institutions to complete the forms before they can launch the security (in this case their spot Bitcoin ETFs) on the exchange. However, the paperwork and submission to the SEC does not mean that their Bitcoin ETF applications have been approved.
Grayscale Chief Legal Officer Craig Salm published a short post, saying, “Just filling out some Forms.” The post received seven thousand likes as the crypto community is again hyped anticipating the increasingly likely approval.
Is Spot Bitcoin ETF Pending Final Approval?
TechCrunch’s senior crypto reporter Jacquelyn Melinek first claimed on social media that she “heard from sources extremely close to the matter that the bitcoin spot ETF is going to be approved by the SEC for *multiple* firms’ applications.”
“Expecting something tomorrow,” said Melinek.
“It’s done,” claimed Anthony Scaramucci, a popular financier with nearly one million followers on X (formerly known as Twitter) who briefly served as the White House Communications Director.
“SEC is giving final comments as we speak, then issuers will submit final 19b-4s and S-1s soon after,” said Bloomberg Intelligence ETF analyst Eric Balchunas. “So I mean this is def as close to ‘done’ as we’ve been but no official approval as far as I know.”
Bitcoin Price Rebound to $44,000 and Dropped Again
Following the news, Bitcoin price surged above $44,000 and reached $44,733 according to CoinMarketCap. It then dropped to the $43,000 level, currently trading at $43,626, just up by 1% from 24 hour ago.