Valkyrie (financial service firm) filed for a Bitcoin ETF under the symbol ”BRRR”

After the news of Blackrock applying to launch their own spot Bitcoin ETF, Valkyrie has just updated their filing for their Bitcoin fund.

Here is their full updated registration statement for SEC: https://www.sec.gov/Archives/edgar/data/1841175/000138713123007682/valkyrie-s1a_062123.htm#valkyries1aa018

This is an initial public offering of the Trust’s Shares. The Shares may be purchased from the Trust only in one or more blocks of 50,000 Shares (a block of 50,000 Shares is called a “Basket”). The Trust issues Baskets of Shares to certain authorized participants (“Authorized Participants”) on an ongoing basis as described in “Plan of Distribution.” Baskets are offered continuously in exchange for bitcoins. The Trust does not issue fractions of a Basket. The Trust intends to redeem Shares in Baskets on an ongoing basis from Authorized Participants. See “Description of the Shares—Redemption of the Shares.”

The Trust intends to list the Shares on The Nasdaq Stock Market, LLC (“Nasdaq”) under the symbol “BRRR.”