Valkyrie has filed an application with the US Securities and Exchange Commission (SEC) for a Bitcoin Mining ETF. The Valkyrie ETF has been approved by the SEC for listing on the Nasdaq, according to the SEC statement.
In its application under the name Bitcoin Miners ETF, Valkyrie promises to keep at least 80% of its net assets in Bitcoin mining companies. At least half of the earnings will be invested in Bitcoin mining companies. Companies whose earnings increase with the price of Bitcoin will also be a source of income for investors.
The US Securities and Exchange Commission (SEC), which is among the largest regulators globally, continues to monitor the ETF very closely. The approval of the Valkyrie Bitcoin Mining ETF by the SEC has attracted a lot of attention. So, according to experts, this step is very important.
The SEC, which has not given spot ETF approval for Bitcoin for a long time, is not entirely negative towards cryptocurrencies. Currently, the futures Bitcoin ETFs approved last year and the mining ETF recently approved by the SEC are keeping hopes alive. With the regulations settled, the SEC's "investor protection" argument will weaken.
The concept of an ETF is similar to a stock. Stocks are priced in line with a company's value, but an ETF usually tracks the price of a valuable asset. When Bitcoin is appreciated, investors who buy ETF, or simply Bitcoin shares, make money. Moreover, they do not have to bear the risks of stock market hacking and similar.
According to Santiment, the rise in BTC will continue
Santiment, a platform that offers analysis on cryptocurrencies, offers data that the rise in the leading cryptocurrency Bitcoin (BTC) can continue today. Bitcoin, which has been on a downward trend since the beginning of 2022, has recently managed to exceed $ 40 thousand. At the time of writing, the leading cryptocurrency is trading at $43,709.81, increasing 15.64 percent in the last week and 5.34 percent in the last 24 hours.