Valkyrie has submitted a new revised prospectus for a Bitcoin spot ETF, stating that creation and redemption can only be done in cash.

BlockBeats news, on December 14th, Bloomberg analyst James Seyffart posted on social media that Valkyrie submitted a newly revised prospectus (S-1 document) for its Bitcoin spot ETF today. They join Bitwise and Invesco in stating that creation and redemption can only be done in cash. Similar to Invesco, the document specifically states that if/when allowed, they hope the ETF can use physical creation in the future.