Valkyrie Investments Resubmits Bitcoin ETF Application to SEC

Summary: Valkyrie Investments, a specialist alternative asset management business resubmitted its ETF application the SEC. It updated its filing to include Coinbase as a partner for monitoring. This resubmitting ETF application trend started post SEC's negative comments of inadequate filing earlier.

BlackRock has resubmitted its application for a Bitcoin-based exchange traded fund (ETF), and they have been joined by Valkyrie Investments, a specialist alternative asset management business connected to the crypto sector.

Following BlackRock’s Footsteps

The biggest asset manager in the world, BlackRock, recently resubmitted an application that included information on surveillance sharing agreements (SSA).

Already, other companies that want to create Bitcoin ETFs, such as Invesco, VanEck, Fidelity Investments, 21Shares, and WisdomTree, have resubmitted their applications with the same or comparable changes. The current Bitcoin price increase may be attributed in large part to the attention it has received from traditional financial institutions.

Valkyrie is a prominent cryptocurrency fund that released a Bitcoin futures ETF in 2021. According to Bloomberg, Valyrie has updated its SEC filing to include Coinbase, a cryptocurrency exchange located in the United States, as the partner responsible for providing monitoring.

Agreement Signed with Coinbase

Moreover, the registration said that the Valkyrie ETF will list on Nasdaq if authorized by the SEC. Reports suggest that on June 30, 2023, the investment management business and Coinbase signed a surveillance sharing agreement. This resubmitting ETF application trend started post SEC’s negative comments of inadequate filing earlier.

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