🚀🚀🚀 #Grayscale , #Ark Invest, Valkyrie File Security Registration Forms for Spot #BitcoinETF

Grayscale, ARK Invest, and Valkyrie have taken a significant step towards the launch of spot Bitcoin exchange-traded funds (ETFs) by submitting Form 8-A for security registration with the U.S. Securities and Exchange Commission (SEC). The Form 8-A, related to the "registration of certain classes of securities," is a crucial requirement for the ETF issuers before they can introduce their spot Bitcoin ETFs on the exchange.

However, it's important to note that the submission of paperwork to the SEC does not imply automatic approval for their Bitcoin ETF applications. Grayscale's Chief Legal Officer, Craig Salm, shared the news on social media, stating, "Just filling out some Forms," garnering significant attention and anticipation within the crypto community.

While there are indications of progress, the final approval of the spot Bitcoin ETFs is not confirmed. TechCrunch's Jacquelyn Melinek suggested insider information that the SEC is likely to approve multiple firms' applications for the Bitcoin spot ETF.

Anthony Scaramucci, a well-known financier, echoed confidence, stating, "It’s done," emphasizing the ongoing discussions and finalization between the SEC and issuers.

Eric Balchunas, an ETF analyst at Bloomberg Intelligence, provided insights, noting that the SEC is currently offering final comments, with issuers expected to submit final 19b-4s and S-1s shortly after. Despite the optimism, no official approval has been confirmed at this point.

In response to these developments, the price of Bitcoin experienced a surge, reaching around $44,000 before retracing to the $43,000 level. The crypto community is closely monitoring these developments, anticipating potential approval and the subsequent impact on the cryptocurrency market.

Source - Hongji Feng @hongji-feng
Website - Cryptonews

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