BlackRock, Valkyrie and Van Eck file amended S-1 forms for Bitcoin index funds

BlackRock, Valkyrie and Van Eck file amended S-1 forms for Bitcoin index funds

According to a report by en.cointelegraph.com,
Asset managers BlackRock, Valkyrie and Van Eck have filed their amended S-1 forms with the US Securities and Exchange Commission (SEC) to apply for Bitcoin index funds (ETFs). These applications were accepted for review in January 2024. BlackRock updated its filing to name Jane Street and JPMorgan Securities as “authorized participants” for its Bitcoin spot ETF. Commenting on the BlackRock move, Bloomberg ETF analyst Eric Balchunas said it looks like they have their first horse in the starting line.

The potential impact of these activities on the market and the financial industry is significant. If the SEC approves these Bitcoin ETF applications, it is expected to result in a massive influx of money into the cryptocurrency market. Institutional investors who have been on the sidelines due to regulatory concerns can now invest in Bitcoin, which could drive up the price of the cryptocurrency.

Additionally, the approval of Bitcoin ETFs would further strengthen the legitimacy and acceptance of cryptocurrencies as an asset class. This could increase the confidence of companies and traditional investors in the market and lead to wider acceptance and integration of cryptocurrencies into the financial system.

It is important to note that the SEC's final decision is still pending, but if it is positive, it could be a turning point for the cryptocurrency market and the financial industry as a whole. Traders and investors should therefore closely monitor developments regarding these applications.