Bitcoin ETF studies around the world continue unabated. ETFs are expected to provide significant inflows to the number one cryptocurrency.
The institution that receives ETF applications and is authorized to make a decision on it is the Securities and Exchange Commission (SEC). The SEC will have 3 major Bitcoin ETF applications pending on its desk this week. While the ProShares Bitcoin Strategy ETF is expected to be traded on Tuesday at the latest, other ETF applications are as follows:
1. Valkyrie Bitcoin Strategy ETF
Valkyrie Investments, known for its digital asset and alternative asset investments, filed its Bitcoin ETF application in January 2021. This ETF is expected to trade on the NYSE (New York Stock Exchange) at the Chicago Mercantile Exchange reference price. Thus, investors will be able to acquire different strategies. The storage of Bitcoins will take place in Xapo’s cold wallets.
The possible approval date of the ETF presented by Valkyrie is October 25, 2021.
2. Invesco Bitcoin Strategy ETF
Invesco, which made the Bitcoin ETF application in partnership with Galaxy Digital, is also one of the companies with high expectations for approval. The company is the fourth largest ETF provider in the US. Approval of Invesco’s ETF, which is experienced in the ETF part in the American markets, can have a positive impact on the crypto money markets.
The probable approval date for the ETF offered by the Invesco company is October 19, 2021.
3. VanEck Bitcoin Strategy ETF
VanEck, which is among the top Bitcoin ETF applications, has been working to get Bitcoin ETF approval since 2018. The company, which withdrawn its first application in 2018 in 2019, made a second application in December 2020.
The main reason for this is that the chairman of the SEC had changed at that time. VanEck aims to prove that crypto markets will be strong against manipulation. Thus, it will also be able to prove that the market has entered an institutional cycle since 2016.
A decision is expected on October 25 for VanEck’s Bitcoin ETF application.