Valkyrie, the most recent issuer of exchange-traded funds (ETFs), has submitted an amended application pertaining to Bitcoin. The Nashville-based company has explained in the filing that Coinbase Global Inc. will be responsible for market surveillance activities in order to support the proposed Bitcoin fund. The Securities and Exchange Commission (SEC) had previously expressed concerns about the lack of clarity in earlier applications.
The new documents, filed on Wednesday, highlight that Nasdaq, the exchange on which Valkyrie intends to list the ETF if it receives approval, has entered into a term sheet with Coinbase on June 30. This agreement outlines their intention to establish a surveillance-sharing arrangement.