Nasdaq files for Valkyrie bitcoin ETF, lists Coinbase as surveillance sharing partner

Quick Take

  • Nasdaq submitted a filing for Valkyrie’s proposed spot bitcoin ETF.
  • The new filing includes Coinbase as the surveillance sharing partner — much like other applications over the past several weeks.

     

Valkyrie Funds is the latest firm with a proposed spot bitcoin ETF that plans to use a surveillance sharing agreement with crypto exchange Coinbase.

Valkyrie initially proposed the fund last month, with plans to list shares on Nasdaq. A new 19b-4 filing from the exchange dated July 3 and released Wednesday lists Coinbase as a surveillance sharing partner — much like other applications that have been refiled over the past several weeks. 

“Trading of Bitcoin on Coinbase represents a significant portion of US-based Bitcoin trading,” the exchange said in the filing. “According to the Sponsor, the Exchange aims to enter into a surveillance-sharing agreement with Coinbase, the operator of the largest United States-based spot trading platform for Bitcoin representing a majority of global spot BTC trading paired with USD.”

Bitcoin surges as ETF filings stack up

The SEC has not yet approved a spot bitcoin ETF, but the race has heated up after filings for large asset managers such as BlackRock and Fidelity included Coinbase in surveillance sharing agreements.

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The price of bitcoin has surged more than 13% over the past month amid the excitement surrounding the filings. It's currently trading around $30,344, according to CoinGecko


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About Author

Sarah is a reporter at The Block covering policy, regulation and legal happenings. Before, Sarah was a reporter with CQ Lega