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Valkyrie Investments CEO Leah Wald opens up on the importance of Bitcoin ETFs and why the traditional financial world should pay attention to digital assets moving forward.
The New York Digital Investment Group and Global X originally filed applications with the SEC for spot Bitcoin ETF listings in June and August 2021, respectively.
The ETF will track securities in an index that measures the performance of gold mining and digital assets mining firms, according to the filing.
BTC’s market cap is much smaller than gold, but Bitcoin’s daily volume and the amount held under management by funds suggests that the cryptocurrency is trading at a heavy discount.
“This campaign aims to educate and inspire the investment community to take action and make their voices heard on this historic decision,” said Michael Sonnenshein.
Gary Gensler reiterated his stance of being technology-neutral, but that he would give “careful consideration” to the concerns Representatives Tom Emmer and Darren Soto raised.
Crypto investors still hope that the U.S. Securities and Exchange Commission will approve a spot-based BTC ETF one day, but data shows it has good reason not to.
Investors air their thoughts as to why the SEC should approve the conversion of Grayscale’s BTC Trust into a spot ETF.