Key Points

  • The US SEC has accepted Valkyries BRRR spot Bitcoin ETF for review
  • The development comes soon after the regulator accepted Blackrock’s spot bitcoin ETF application for review as well

Valkyries BRRR spot Bitcoin ETF is now officially under the US SEC review process after the regulator expressed that it had been satisfied with the filing. This ETF was named ‘BRRR’ after a popular meme in the Bitcoin community that refers to the money printer sound.

Valkyries BRRR spot Bitcoin ETF accepted for review by the SEC.

The US SEC has begun reviewing the popular Valkyries BRRR spot bitcoin ETF. This ETF, named after a popular meme in the crypto industry, was filed as an answer to BlackRock’s spot Bitcoin ETF.

BlackRock’s CEO Larry Fink has moved from thinking that Bitcoin is a scam in 2017s to acknowledging that it’s a ‘digital gold’ and wanting to expose his investors to it. Other TradFi institutions have joined the queue to file for similar assets, including Valkyrie.

Per data from the SEC’s Nasdaq rulemaking list, Valkyries BRRR spot Bitcoin ETF proposal has entered an official docket as of July 17. This filing was accepted after BlackRock’s was accepted four days apart on July 13.

This acceptance opens the road for US SEC officials to look into the key details of the filing and determine if it is fit to be offered to US markets. These ‘TradFi crypto take over’ filings are expected to be approved, opening flood doors of institutional investors to the crypto market.  

However, only time will tell what happens now that the US SEC is not the biggest fan of how the crypto industry is being run. Keep watching Fintech Express for more updates on this and other fintech-related developments.