Valkyrie Files Application to Launch a Spot Bitcoin ETF

Valkyrie Funds yesterday submitted a filing to the US Securities and Exchange Commission (SEC) for its Valkyrie Bitcoin Fund ETF, which intends to list shares on the Nasdaq under the ticker BRRR.

The ETF would hold bitcoin to allow investors to take part in the performance of the CME CF Bitcoin Reference Rate, New York Variant.

With this filing, Valkyrie Funds has entered the current race for the SEC to approve a spot bitcoin ETF, which WisdomTree, Invesco, and BlackRock have also filed for within the last week.

As a result of this recent filing activity, the price of bitcoin has increased by 16%, with a 6.3% rise on Wednesday alone to trade at $30,114 according to TradingView.