The New York Stock Exchange ( #NYSE) has applied to the US Securities and Exchange Commission ( #SEC) to list #Valkyrie's #Bitcoin #ETF shares if approved .
#Valkyrie applied for the ETF in question in January. The company stated that if the application is approved, it will be listed on the NYSE, and Coinbase Custody will offer custody service to the fund. The SEC has a maximum of 240 days to give a definitive response to each request, such as acceptance or rejection.
There have been many ETF applications to date, all of which have been rejected. The justification was the volatility and manipulation doubts in the market. The number of ETFs the SEC has rejected in this way is over 10.
As of 2021, it is considered that the probability of an ETF approval is higher. It is even stated that the SEC can approve not one, but multiple ETFs at the same time to prevent competition. In recent months, three different Bitcoin ETFs have been given the green light over a period of several days in Canada. The outgoing chairman of the SEC, Jay Clayton, said in October that the agency is still open to reviewing ETF offers.