Header logo
  1. Research
  2. Crypto Research
  3. Market Update

Valkyrie Applies for Bitcoin Spot ETF, CleanSpark Expands Operations in Georgia

Jun 22, 2023
Market Update After three consecutive days of declines, traditional indices are rebounding, with the $SPY and $QQQ rising 0.10% and 0.61%, respectively. In contrast, after three days of sharp gains, $BTC (-0.22%) and $ETH (-0.57%) have cooled off. The emergence of multiple Bitcoin spot ETF applications from reputable financial institutions has sparked a Bitcoin-led rally, with Bitcoin dominance ($BTC.D) rising to 51.34%, its highest level since April 2021. Despite Bitcoin outperforming most altcoins, the leader in the top-100 coins over the last seven days is $PEPE, rising 81.2%, raising questions about whether Pepe will dethrone Doge and Shiba Inu as the most popular meme-coins going forward.Valkyrie, a crypto investment fund, is the latest of several traditional finance firms to apply for a Bitcoin spot exchange-traded fund (ETF). Valkyrie filed an S-1 registration form with the SEC yesterday, indicating its intention to list the fund on the Nasdaq under the symbol BRRR. While Valkyrie is experienced in Bitcoin futures ETFs, having launched two Bitcoin futures ETFs, this would be its first push for a BTC spot ETF. The decision to pursue the spot ETF was influenced by recent actions of other market participants such as Blackrock and WisdomTree. Valkyrie's CIO, Steven McClurg, p

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

Executium TN 6BYSMrQs Unsplash

CRYPTO MARKET UPDATE RATES ARE BROADLY LOWER, WITH A NOTABLY STRONGER RALLY AT THE FRONT END OF THE CURVE AS THE MARKET APPEARS TO BE TAKING POTENTIAL RATE CUTS OVER THE NEXT COUPLE OF FOMC MEETINGS MORE SERIOUSLY. Despite significant weakness in equities today, the crypto market is looking relatively healthy, with BTC and many altcoins in the green. BTC briefly rallied above $67k but has since drifted back down...

BTC -0.22% ETH -0.80% GBTC +0.67% IWM -2.09% QQQ -3.27% SOL 1.55% ^SPX
Andre Francois Mckenzie Vh7U Z75L3U Unsplash

CRYPTO MARKET UPDATE DESPITE BEING THE LAUNCH DAY FOR ETH ETFS, CRYPTO BROADLY MOVED LOWER IN THE EARLY MORNING HOURS TODAY, POSSIBLY DUE TO MOVEMENT OUT OF THE MT. GOX TRUSTEE WALLETS. Mt. Gox sent approximately $130 million in BTC to Bitstamp, leaving about 90k BTC remaining in the trustee wallets. This move lower was likely also influenced by a rise in the DXY. Currently, BTC is trading around $66.5k,...

AVAX -2.32% BTC -0.22% ETH -0.80% ETHBTC ETHE N/A% GBTC +0.67% GOOGL -4.9% SOL 1.55% TSLA -12.46% V -3.7%
All-time highs next? Bitcoin holds $62K as the dollar index tumbles to 3-week lows

CRYPTO MARKET UPDATE POLITICAL DEVELOPMENTS CONTINUE TO DOMINATE INVESTOR SENTIMENT FOLLOWING PRESIDENT BIDEN'S WITHDRAWAL FROM THE PRESIDENTIAL RACE ON SUNDAY AFTERNOON. The initial market reaction saw a dip in crypto prices, with Bitcoin falling from $67.5k to $66k. However, the market rebounded after Biden endorsed Harris. Since the U.S. market opened on Monday, we have seen relatively choppy price action. BTC is now trading slightly above $67k, while ETH remains...

BITI BTC -0.22% ETH -0.80% OP -1.98% SOL 1.55% USDY 0.32%
Bitcoin Equilibrium Price Likely to Top $168,000 Following ETF Approval, FSInsight Says

CRYPTO MARKET UPDATE U.S. EQUITIES ARE CONTINUING THIS WEEK’S SELL-OFF, WITH THE SPY -2.07%  AND QQQ -3.27%  BOTH DECLINING APPROXIMATELY 0.28%, WHILE THE DXY AND TREASURY YIELDS INCH UPWARDS. In contrast, BTC is moving sharply higher, trading at $65.8k, with rumors circulating that former President Trump will unveil plans to add Bitcoin as a strategic reserve at next week’s Bitcoin conference. ETH is trading at $3,450 ahead of potential S-1 approval after...

BONK 1.70% BTC -0.22% DXY N/A% ETH -0.80% JUP -8.65% QQQ -3.27% SOL 1.55% SPY -2.07% WIF -1.42%
FS Insight

Sign in to read the report!

We have detected you are an active member!

or

Sign in with Google

Sign in with Twitter
Ray: 092064-dd9f98-b8bba0-d44388-032b69