Bullish BTC Signal: SEC Formally Accepts Valkyrie Spot Bitcoin ETF Filing For Review..

The SEC is also reviewing applications for funds, including Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust, and Invesco Galaxy Bitcoin ETF, which also entered a three-week comment period.

Going back to 2013, the SEC has long stonewalled proposals for a spot Bitcoin ETF. Nonetheless, the latest competition among firms vying to be the first to launch a Bitcoin ETF in the United States is seen by many as a bullish development for the crypto industry.

The potential SEC endorsement of a spot ETF would equate to a seal of approval for Bitcoin from the securities watchdog. Moreover, the regulatory green light would introduce a fresh capital inflow into the BTC market.