Investment firm Valkyrie has submitted an amended spot Bitcoin exchange-traded fund (ETF) application to the US Securities and Exchange Commission (SEC). The company noted that its initial application was incomplete and may be revised before the registration statement is effective. This move comes after the SEC postponed its decision on the Valkyrie Bitcoin Fund last month. The crypto industry is optimistic about the potential of a spot Bitcoin ETF to boost Bitcoin’s legitimacy, trigger institutional adoption, and increase the BTC price. The SEC has previously delayed or rejected spot Bitcoin ETFs due to concerns about market manipulation and investor protection, although SEC Commissioner Hester Pierce has expressed support for their approval.
AI Sentiment: Positive