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Digital asset manager Valkyrie Investments is the latest firm to amend its spot Bitcoin (BTC) exchange-traded fund (ETF) filing with United States securities regulators.
Valkyrie filed an updated spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC) on Oct. 30, according to the SEC database.
The updated form S-1 registration statement for the Valkyrie Bitcoin Fund aims to offer investors an opportunity to invest in common shares backed by Bitcoin. The shares represent units of fractional undivided beneficial interest and ownership of the trust and are expected to be traded under the ticker symbol “BRRR” on the Nasdaq Stock Market.
“The information in this prospectus is not complete and may be changed,” Valkyrie stated in the filing, adding that the firm is not allowed to sell BRRR securities until the registration statement is effective.
The amended filing comes about a month after the SEC delayed its decision on the Valkyrie Bitcoin Fund in late September.
Valkyrie’s updated spot Bitcoin ETF joins at least six other recently amended spot BTC ETF filings made by Bitwise, BlackRock, Fidelity, Grayscale, VanEck and ARK Invest.
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According to online crypto ETF analysts, the ongoing Bitcoin ETF amendments could be translated as a “good sign” of progress and impending approvals. Valkyrie’s latest spot Bitcoin ETF update is yet another evidence of movement happening behind the scenes, Bloomberg ETF analyst James Seyffart believes.
UPDATE: @ValkyrieFunds joins the prospectus amendment train for their spot #Bitcoin ETF. Things still moving behind the scenes. pic.twitter.com/z5WAvZtFwE
— James Seyffart (@JSeyff) October 30, 2023
Following the recent amendments, at least five of the rest of the known spot Bitcoin ETF filers have not updated their filings, including firms like WisdomTree, Invesco and Galaxy, Global X, Hashdex and Franklin Templeton.
The SEC currently has eight to 10 filings of possible spot Bitcoin ETFs waiting for the regulator’s consideration, SEC chair Gary Gensler reportedly said in late October.
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