Recently, Valkyrie and ARK 21Shares filed to become spot Bitcoin exchange-traded funds (ETFs), joining an increasing number of competitors vying for permission from the U.S. Securities and Exchange Commission.
Jan. 4 saw the filing by Valkyrie and ARK 21Shares for an 8-A registration of securities for a spot Bitcoin ETF with the SEC, after the filings made by Fidelity yesterday and Grayscale and VanEck earlier today.
Lots of Bitcoin ETF issuers have amended their 8-A forms in recent weeks…
❓But what is an 8-A form….❓
SEC form 8-A is required by the Securities and Exchange Commission (#SEC) from companies that are seeking to issue securities.
And it must be submitted before securities…
— LondonCryptoClub (@LDNCryptoClub) January 4, 2024
According to Valkyrie and ARK 21Shares’s official files, there is a good probability that permissions will be granted soon as the two businesses fight for the top rank among Bitcoin ETFs in the US.
As the market is agog over the possible approval of a U.S. spot Bitcoin ETF, the filing is made. The filings from Valkyrie and ARK 21Shares, among others, tell a different story than the rumors of potential rejections.
The cryptocurrency market is anticipating permits to launch between January 8 and January 10. Major firms like Goldman Sachs are vying for prominent positions in BlackRock and Grayscale exchange-traded funds.
As of right now, nothing is written in stone, but this week has indicated optimism over the likelihood of a spot Bitcoin ETF approval. The excitement is increased by SEC meetings with exchanges like the NYSE, CBOE, and Nasdaq, which suggest possible clearance as early as Monday.