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Discuss the Nasdaq Bitcoin ETF Listing Process



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In this news episode, “Bitcoin NBttom Line” host and Valkyrie CIO Steven McClurg invited Nasdaq’s head of exchange traded products Giang Bui to discuss exchange traded funds (ETFs) and more.

The two started with a discussion of the process of creating and launching an ETF. This process, which lasts 30 to 240 days, must go through several checkpoints put in place by the Nasdaq and the United States Securities and Exchange Commission (SEC) to ensure that all the conditions for approval are met. .

Bui explained that if a product listing does not meet Nasdaq’s generic listing standards, the potential advertiser must file a Form 19b-4 with the SEC to seek approval.

“Issuers choose the Nasdaq because our brands align so well with them in terms of innovation and driving to market for the future,” Bui explained. “We support them from a regulatory perspective, when a product is traded and listed from a capital market perspective, as well as marketing and distribution. It was great to see one of the first Bitcoin linked ETFs hit the market the other week, and we’re excited to be able to support Valkyrie as a trailblazer.

McClurg shared his past experience fighting for actively managed ETFs and having affiliated indices. The frustrating process has hurt the mutual fund industry and has pushed many mutual fund issuers into ETFs.

They then discussed leveraged and reverse products, how Bui got to Nasdaq from the New York Stock Exchange, and whether she believes a Bitcoin spot ETF will hit the market next year.

They closed the episode by talking about NFTs, musicians, comedy, Bitcoin 2022, and some of the cool things the Nasdaq has been up to over the past few months.

Listen to the full episode to find out more!