Valkyrie Investments has filed an amended Form S-1 with the Securities and Exchange Commission (SEC) for its Valkyrie Bitcoin Fund. The filing includes enhanced custody and valuation rules for the cryptocurrency investment vehicle, as it awaits regulatory approval to trade on Nasdaq.

The amended filing updates the index used to value the fund’s Bitcoin from Lukka Prime to the CME CF Bitcoin Reference Rate – New York Variant. It also reduces the fund’s basket size for creating and redeeming shares.

One significant change is the clarification on how the fund will hold its Bitcoin assets. Valkyrie specified that all private keys are now kept in offline cold storage with Coinbase as the fund’s custodian. The filing also outlines the prime brokerage arrangement that allows fund assets to be held in Coinbase’s hot and cold omnibus storage.

The filing includes a new section on risks, highlighting Coinbase’s legal battle with the SEC. Other updates include the addition of a cash custodian, specifying the fund’s principal market for Bitcoin, and reserving the right for Valkyrie to change the fund’s Bitcoin valuation methodology without shareholder approval.

The SEC’s ruling on whether to allow the Valkyrie Bitcoin Fund to trade on public markets is eagerly awaited. If approved, the fund would provide retail investors with exposure to Bitcoin through shares trading on Nasdaq.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	None
Companies	Lukka Prime, Nasdaq, CME CF Bitcoin Reference Rate, Securities and Exchange Commission, Coinbase
Currencies	Bitcoin
Securities	None