SEC Approves Valkyries Bitcoin Futures ETF

The SEC has approved Valkyrie’s XBTO Bitcoin Futures Fund, the latest in a series of proposals for a Bitcoin ETF.

The approval follows that of Teucrium, but the launch date has not yet been announced.

The SEC has so far refrained from approving any physically-backed ETFs, citing concerns over manipulation and lack of surveillance in the Bitcoin market.

However, the approval of Teucrium’s proposal under the Securities Act of 1933 may pave the way for a spot Bitcoin ETF.

In March, the SEC rejected two proposals for a spot Bitcoin ETF.

The CEO of Grayscale, Michael Sonnenshein, has said that his company is “all options on the table” when it comes to fighting for a Bitcoin ETF approval, including legal action against the SEC.

Sonnenshein said that a spot Bitcoin ETF is a matter of when, not a matter of if.