Crypto asset management firm Valkyrie has made a move towards launching a Bitcoin Exchange-Traded Fund (ETF) by filing with the US Securities and Exchange Commission (SEC). In their filing, Valkyrie has designated Coinbase, a leading cryptocurrency exchange, as a Surveillance Sharing Agreement (SSA) counterpart. Including the SSA allows Valkyrie to strengthen its compliance with SEC regulations. ETFs provide investors with an easy and regulated way to gain exposure to Bitcoin and other cryptocurrencies, and their approval by the SEC has been much-anticipated in the crypto community. Valkyrie’s filing comes after a series of similar filings from other asset managers, signaling a growing interest in Bitcoin ETFs. The inclusion of Coinbase as an SSA counterpart may bring additional credibility to Valkyrie’s application. However, it is important to note that the SEC’s decision to approve a Bitcoin ETF is still pending, and previous ETF applications have been rejected. The SEC continues to express concerns about market manipulation and investor protection in the crypto space. Despite the challenges, the demand for regulated investment products for cryptocurrencies remains high, as institutional and retail investors seek exposure to the digital asset market through trusted and secure avenues.
Today: November 30, 2023