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Valkyrie Refiles Spot Bitcoin ETF, Taps Coinbase As SSA Counterpart

Press Releases Crypto News Bitcoinist Valkyrie Refiles Spot Bitcoin ETF, Taps Coinbase As SSA Counterpart

According to a recent Bloomberg report, Valkyrie has refiled an application for a Bitcoin (BTC) Spot exchange-traded fund (ETF) that would invest directly in Bitcoin. The firm has named Coinbase as the market surveillance provider for the ETF.

The US Securities and Exchange Commission (SEC) had previously pushed back against Valkyrie’s application due to a lack of clarity.

Bitcoin ETF Competition Intensifies

The new documents filed on Wednesday state that Nasdaq, which Valkyrie would list if approved, had executed a term sheet with Coinbase to enter into a surveillance-sharing agreement.

Crypto market surveillance is crucial to gaining SEC approval for a spot Bitcoin ETF. The SEC has rejected around 30 spot Bitcoin ETF applications due to fraud and market manipulation concerns.

Valkyrie was one of the early issuers to launch a Bitcoin-futures ETF in 2021, which trades under the ticker BTF.

BlackRock’s mid-June filing for such an ETF has set off a race among other issuers for similar filings and broadly sparked a rally for cryptocurrencies. Bitcoin has added more than 10% over the past month alone and is up more than 80% since the start of the year.

Bloomberg Intelligence ETF analyst James Seyffart said:

This is something I’ve been looking for. Valkyrie is one of the only Bitcoin ETF filers from the recent past that hadn’t submitted a new 19b-4 in this wave.

Valkyrie is a crypto asset manager that offers investment products and services focused on digital assets such as Bitcoin and Ethereum. The company is based in Nashville, Tennessee, and was founded in 2018 by Leah Wald and Steven McClurg, who have extensive experience in financial services and asset management.

Valkyrie offers a range of investment solutions, including actively managed funds, passive funds, and futures-based products. The firm aims to provide investors with e

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Author: Ronaldo Marquez

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