Valkyrie follows BlackRock, amends spot ETF filing; Coinbase joins supervisory sharing agreement as partner

Recently, with traditional financial institutions such as BlackRock submitting Bitcoin spot ETFs, including Fidelity, Ark Invest, WisdomTree, etc., following suit by mimicking BlackRock's application specifications, the latest being asset management company Valkyrie. It has revised its application documents and also named Coinbase as the supervisory shared agreement partner for the spot ETF.

Valkyrie Follows BlackRock

Bloomberg Senior ETF Analyst Eric Balchunas pointed out that Valkyrie has revised its 19b-4 filing, mirroring BlackRock's application specifications, and signed a Surveillance-Sharing Agreement (SSA) with Coinbase.

Furthermore, the statements in the document are more aggressive, using terms like "execution," "agreement," and are consistent with BlackRock, stating that Coinbase is the largest Bitcoin spot exchange in the United States.

Valkyrie also re-filed their 19b-4, like BlackRock they mention specific SSA agreement w/ Coinbase, even seems more aggressive (more use of the words 'executed' and 'agreement') They also, like BlackRock, call Coinbase largest US spot bitcoin exch h/t @NateGeraci pic.twitter.com/NDYKSzJeq9

— Eric Balchunas (@EricBalchunas) July 5, 2023

Valkyrie Submits Applications Multiple Times, More Aggressively This Year

Since 2021, Valkyrie has submitted several Bitcoin-related ETF applications:

• 10/13/2021 Amendment: Bitcoin Futures ETF

• 02/7/2022 Approved: Bitcoin Mining ETF

• 05/5/2022 Approved: Bitcoin Futures ETF

• 05/12/2023 Application: Ethereum Futures ETF

• 05/15/2023 Application: Bitcoin Futures Leveraged ETF

• 06/21/2023 Application: Bitcoin Spot ETF