A pivotal phase in the race for the American spot bitcoin ETF has begun. 

Nasdaq filed amendments related to the spot bitcoin ETFs proposed by BlackRock and Valkyrie in a move that reflects continued movement toward a Securities and Exchange Commission ruling on such funds. 

The SEC would need to approve these documents, known as 19b-4 forms, before the exchanges would be able to list the spot bitcoin ETFs. Fund issuers also need to have their registration statements, known as S-1s, be deemed effective to launch their planned ETFs. 

The regulator could also choose to deny such products, as it has done over the years.

Read more: What to know as an SEC decision on spot bitcoin ETFs…

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