Bitcoin

James

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 The US Securities and Exchange Commission (SEC) has recently given the green light to evaluate a second Bitcoin exchange-traded-fund (ETF) proposal within a week. This move could be considered a significant stride towards integrating cryptocurrency into mainstream financial markets. 
 Valkyrie, a prominent financial services firm, received acknowledgement from the <a href="https://crypto.ro/en/news/blackrocks-bitcoin-etf-filing-sparks-wave-of-optimism-in-crypto/" rel="noopener noreferrer nofollow">SEC for its Bitcoin ETF proposal,</a> the Valkyrie Bitcoin Fund. This news comes just days after the SEC’s initial nod to a similar proposal by <a href="https://crypto.ro/en/news/blackrocks-bitcoin-etf-boosts-market-amid-16m-short-losses/" rel="noopener noreferrer nofollow">BlackRock</a>, on July 13. 
 It appears that Valkyrie was quick to seize the moment; its resubmitted ETF proposal, initially filed on June 21, followed hot on the heels of BlackRock’s innovative filing. 
 Adding a dash of humor to the otherwise sober world of finance, Valkyrie opted to use the ticker ‘BRRR’ for its ETF, a cheeky nod to a meme that humorously illustrates the noise made by a money printer. 
 <img decoding="async" class="size-full wp-image-22566 aligncenter" src="https://crypto.ro/en/wp-content/uploads/2023/07/money-printer-go-brrr-money-printer.gif" alt="money printer go brrr money printer" width="498" height="280" title="SEC embraces two Bitcoin ETF proposals in a single week 2"> 
 Valkyrie didn’t stop there. 
 <blockquote class="twitter-tweet"> 
 Anddd we have anotha one! Most interesting here with this updated Valkyrie Bitcoin Fund prospectus — they have changed their exchange to Nasdaq (same as BlackRock) anddd they gave us a ticker <a href="https://twitter.com/search?q=%24BRRR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$BRRR</a>. <a href="https://t.co/3QxeFRfLPy" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/3QxeFRfLPy</a> 
 — James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1671599801761161235?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">June 21, 2023</a> 
 </blockquote> 
 Echoing BlackRock’s steps, it refined its proposal on July 5th, introducing <a href="https://crypto.ro/en/education/best-crypto-exchange/#2-coinbase-best-us-crypto-exchange-for-beginners" rel="noopener noreferrer nofollow">cryptocurrency exchange&nbsp;Coinbase</a> as a so-called “surveillance-sharing” collaborator. It seems that these two ETF applications might be intertwined, with their fate likely linked in the eyes of the SEC. 
 The approval of these proposals sets in motion a crucial phase in the regulatory process: the public comment period. 
 During this timeframe, members of the public and institutional stakeholders have the opportunity to voice their views on the ETFs, covering aspects such as potential market impact, investor safeguards, and other pertinent considerations. 
 The commentary period, slated to last 21 days from the proposal filing in the Federal Register, will be followed by a thorough review by the SEC. 
 It’s worth noting that these recent approvals do not mark isolated instances. Prior Bitcoin ETF filings from well-known entities such as Fidelity Investments, WisdomTree, VanEck, Invesco, and ARK 21 Shares have also secured the SEC’s approval, signaling a renewed regulatory focus on these applications. 
 Such trends could potentially culminate in the historic approval of a spot Bitcoin ETF, a victory for the crypto sphere. 
 In light of these developments, <a href="https://crypto.ro/en/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>‘s market sentiment has seen a significant uplift. Following BlackRock’s ETF filing, Bitcoin’s price surpassed the crucial $30,000 benchmark, demonstrating robust resilience in the face of market volatility. 
 Despite a slight 1% dip in the last 24 hours, Bitcoin’s trading volume saw a 68% surge, reinforcing a bullish stance in the market. 
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 <img decoding="async" class="wp-image-22563 size-full" src="https://crypto.ro/en/wp-content/uploads/2023/07/bitcoin-price.png" alt="bitcoin price" width="1394" height="792" srcset="https://crypto.ro/en/wp-content/uploads/2023/07/bitcoin-price.png 1200w, https://crypto.ro/en/wp-content/uploads/2023/07/bitcoin-price-300x170.png 300w, https://crypto.ro/en/wp-content/uploads/2023/07/bitcoin-price-1024x582.png 1024w, https://crypto.ro/en/wp-content/uploads/2023/07/bitcoin-price-768x436.png 768w, https://crypto.ro/en/wp-content/uploads/2023/07/bitcoin-price-750x426.png 750w, https://crypto.ro/en/wp-content/uploads/2023/07/bitcoin-price-1140x648.png 1140w" sizes="(max-width: 1394px) 100vw, 1394px" title="SEC embraces two Bitcoin ETF proposals in a single week 3"> 
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 Bitcoin price chart 24 hours | CoinMarketCap 
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SEC embraces two Bitcoin ETF proposals in a single week

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