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Valkyrie Refiles for Spot Bitcoin ETF With Coinbase as Surveillance Partner
The asset manager first filed for a spot bitcoin exchange-traded fund in January 2021.
Valkyrie Digital Assets refiled its application for a spot bitcoin exchange traded fund (ETF) with the U.S. Securities and Exchange Commission, joining asset managers including BlackRock and Fidelity in taking another stab at the process.
The Tennessee-based asset manager filed a new 19b-4 paper saying crypto exchange Coinbase would act as the partner for a so-called surveillance-sharing agreement, which is supposed to help prevent market manipulation and has been a key part of all ETF applications in the past month.
STORY CONTINUES BELOW
The Wednesday filing says Nasdaq, the exchange Valkyrie would use to list the ETF, “executed a term sheet” with Coinbase, which Valkyrie said is the “largest United States-based spot trading platform for Bitcoin.”
BlackRock and Fidelity filed renewed paperwork last week.
The asset manager first filed an application in January 2021. It refiled paperwork with the SEC on June 21, naming Nasdaq as its chosen exchange and changing its ticker symbol to $BRRR. Valkyrie already has a bitcoin futures ETF listed on the exchange. That was approved in May 2022.
Helene Braun
Helene is a New York-based news reporter at CoinDesk, covering news about Wall Street, the rise of the spot bitcoin exchange-traded funds (ETFs) and updates on crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show on Spotify and Youtube. Helene is a recent graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
