Although the US Securities and Exchange Commission (SEC) has not yet approved any BTC spot ETFs, it has approved at least some ETFs that are linked to the cryptocurrency market. As of Tuesday, they also include a fund that allows exposure to companies engaged in BTC mining.
From now on, it will be possible to trade BTC Miners ETF from Valkyrie on the NASDAQ under the WGMI ticker. According to the announcement of January 26, this investment fund will not offer direct exposure to the price of BTC, but 80% of its portfolio will consist of companies that benefit BTC.
This investment fund is similar to the Digital Asset Mining ETF from VanEck’s workshop, but is still awaiting the SEC’s verdict on its approval. The next date for the decision is set for February 14.
Valkyrie became one of the first asset managers to receive a license for ETF BTC futures. In addition to Valkyrie, it is also offered by VanEck and ProShares. However, Futcoin ETFs on BTC do not offer direct exposure to the BTC price, unlike spot BTC ETFs, which the SEC still does not want to allow.
The US Securities and Exchange Commission (SEC) has also postponed the verdict on applications for Grayscale Investments’ BitFin ETFs. It wants to convert its Grayscale BTC Trust, which covers over 650,000 BTC, into spot ETF.