SEC delays the decision for the spot Bitcoin ETF by Valkyrie Investments

Something is rotten in the US crypto state. After the series of the SEC October approvals for Bitcoin ETFs, the community expected the warming into the industry; meanwhile, the commission recently postponed the application sent by Valkyrie Investment to January 7, 2022.

The regulator comments on the decision: “The commission needs the larger period to come up with a clear decision. The regulator announced a delay to get enough time for reviewing all the issues submitted in the application.”

Valkyrie Investment aims to become the first US-based company to run a spot Bitcoin ETF. The same application is sent by VanEck – the US financial regulator hasn’t announced any decision yet.

Earlier, the previous month, Valkyrie Investment got the SEC approval to run a Bitcoin ETF based on futures trading. Shares of Valkyrie Bitcoin Strategy ETF (entered the exchange under the ticker BTF) are available for investors since October 22.

Within 10 days, the BTF price has increased by 3.9%, reaching $25.3 per one share. As of today, the overall fund’s supply is 1 million shares. 460 642 BTF shares are still available for investors.