Bitcoin ETF comes into effect, Bakkt is listed in the U.S. to embrace cryptocurrency

The mainstream US capital market is fully accepting cryptocurrencies.

Since Coinbase’s direct listing on NASDAQ on April 14, 2021, the US traditional capital market has ushered in the second wave of embracing cryptocurrencies.

Bitcoin ETF

After an eight-year long application journey, according to CoinDesk, the SEC approved the Bitcoin futures ETF for the first time last Friday after a meeting of five committee members of the US SEC.

According to CoinDesk reporter Nikhilesh De, if the SEC does not reject, delay or raise more questions, the Bitcoin futures ETF proposal will automatically take effect. From last Friday to the present, there has been no news of rejections, delays or more questions.

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ProShares submitted an effective revised prospectus to the U.S. SEC on October 15 and is expected to go public on October 18.

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Bloomberg news also revealed that the bitcoin futures issued by ProShares are about to be traded. According to Bloomberg Intelligence ETF research analyst James Seyffart, the Bloomberg data team is adding the ProShares Bitcoin Strategy ETF to the terminal . The code is BITO. The fee for this ETF is 0.95 basis points, which is half less than the 2% rate of Grayscale G BTC . , The ETF may go online next Monday or Tuesday.

Coincidentally, on October 15, 2021, Nasdaq sent a letter to the US SEC to urge the US SEC to speed up the release of Bitcoin ETFs . In the letter, Nasdaq stated that it had received a copy of the registration application of the Valkyrie Bitcoin Strategy ETF (Valkyrie Bitcoin Strategy ETF), and that the above-mentioned ETF has been approved by the Exchange for listing and registration. Nasdaq further publicly stated that the registrant is seeking to speed up the effective date of registration immediately. Nasdaq joined this request and hopes that the US SEC will speed up the release of Bitcoin ETFs.

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According to CNBC, citing people familiar with the matter, Grayscale, a global crypto asset management company, plans to apply for the conversion of the world’s largest Bitcoin fund into a spot exchange-traded fund (ETF) early this week.

Welcome to another company listed on a cryptocurrency exchange: Bakkt

On October 18th, the US capital market will usher in the listing of Bakkt, a cryptocurrency exchange.

At the beginning of its establishment, Bakkt received Wall Street giants (including Li Ka-shing’s Victoria Harbor Investment, Tencent’s largest shareholder Naspers’ FinTech division PayU, Microsoft’s venture capital division M12, top hedge fund manager Alan Howard, NYSE parent company Intercontinental Trading Institute, Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Pantera Capital, and Protocol Ventures, etc.).

On October 15, 2021, Bakkt Holdings, LLC, a digital currency exchange under the Intercontinental Exchange, the parent company of the NYSE, announced that it has completed the previously announced business merger with VPC Impact Acquisition Holdings.

VPC Impact Acquisition Holdings, a special purpose acquisition company, is a subsidiary of Victory Park Capital, a global investment company. At the extraordinary general meeting of shareholders held on October 14, 2021, shareholders voted to approve its previously announced business merger with Bakkt Holdings, LLC, a digital asset market established in 2018.

According to the statement of the Intercontinental Exchange and VPC, the combined company was renamed Bakkt Holdings, Inc., and its Class A common stocks and warrants will be traded on the New York Stock Exchange from October 18, 2021. The stock code is non-specific. These are “BKKT” and “BKKT WS”.

Previously, on March 11, 2021, Bakkt obtained the BitLicense license from the New York Department of Financial Service.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/bitcoin-etf-comes-into-effect-bakkt-is-listed-in-the-u-s-to-embrace-cryptocurrency/
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