Valkyrie Funds Updates its Bitcoin ETF Filing
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July 7, 2023

Nasdaq has just filed an updated application with the SEC to launch a BTC-based spot exchange-traded fund on behalf of Valkyrie Funds.

According to the new application, Coinbase has been added as a partner in the so-called joint supervisory arrangement. This mechanism has been a key addition to the ETF application filed by BlackRock.

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After the SEC criticized its details, Nasdaq, on behalf of Valkyrie Funds, has submitted a second application, taking into account the recommendations.

Invesco, VanEck, 21Shares, WisdomTree and Fidelity, whose applications also failed to take this specificity into account, have followed suit.

Valkyrie, which submitted its own proposal after the competition, was the last to react. The initial option consisted of listing on Nasdaq and tracking the asset's cash value using the CME CF index.

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