Coinbase Will Be Fidelity's Surveillance Partner for Bitcoin ETF, Refiled Application Says

CoinDesk
CoinDesk

30 Jun 2023 8:39 PM

The SEC told Cboe it needed to name its partner earlier Friday....

  • Cboe's BZX Exchange has named crypto exchange Coinbase as the market for its surveillance-sharing agreement in its refiled spot bitcoin exchange-traded fund (ETF) application.
  • Several other companies, including Fidelity, WisdomTree, VanEck, Galaxy/Invesco, and BlackRock, have also filed for spot bitcoin ETFs recently.
  • The U.S. Securities and Exchange Commission (SEC) has rejected bitcoin ETF applications in the past, citing inadequate surveillance-sharing agreements.
  • The SEC requires surveillance-sharing agreements with markets of "significant size" to prevent market manipulation and protect consumers.
  • Financial giants are interested in issuing spot bitcoin ETFs to tap into the growing popularity of cryptocurrencies.

The article provides information about the refiled spot bitcoin ETF application and the SEC's requirements for surveillance-sharing agreements. It highlights the interest of various companies in launching spot bitcoin ETFs. The sentiment is neutral.

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You May Ask

Which crypto exchange did Cboe's BZX Exchange name for its surveillance-sharing agreement?What is the reason behind the SEC's rejection of previous bitcoin ETF applications?Which companies have recently filed for spot bitcoin ETFs?Why do financial giants want to issue spot bitcoin ETFs?What is the purpose of surveillance-sharing agreements in the context of bitcoin ETFs?

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