2021 has been an explosive year for bitcoin as the crypto asset has touched new all-time price highs as cryptocurrencies have seen increased demand. Meanwhile, a number of crypto proponents expect the first exchange-traded fund (ETF) to be approved this year as a number of firms are racing to launch an ETF. On Friday, the Texas-based firm Valkyrie Digital Assets filed an ETF registration proposal called the Valkyrie Bitcoin Trust with hopes to list the fund on the New York Stock Exchange (NYSE).
Crypto Proponents Expect a Bitcoin Exchange-Traded Fund Approval in the US This Year
This year just might be the year when U.S. regulators approve a bitcoin (BTC)-based exchange-traded fund (ETF) that’s hosted on a major stock exchange. For instance, in December, news.Bitcoin.com reported on Vaneck’s bitcoin-based ETF filing with the U.S. Securities and Exchange Commission (SEC).
This week, Vaneck also filed for another exchange-traded fund called the Digital Asset ETF, which aims to hold equity in companies that generate revenue from cryptocurrency services. Meanwhile, at the same time, Canadian investment fund manager Arxnovum Investments filed for a bitcoin-based ETF with Canada’s Ontario Securities Commission.
Now another firm has joined the bitcoin ETF race as the Texas-based firm Valkyrie Digital Assets registered for a bitcoin fund on Friday, January 22. Valkyrie notes in the filing that the trust intends to list the shares on NYSE Arca. After the filing was public, crypto proponents discussed the new ETF entry on social media. For example, the crypto CFA James Seyffart, talked about Valkyrie’s ETF registration and he told his 3,800 Twitter followers he expects a bitcoin ETF approval this year.
“And there’s another entrant into the Bitcoin ETF Race,” Seyffart said.
