The most recent filing, which concerns asset manager BlackRock’s attempt to launch a spot bitcoin exchange-traded fund (ETF), included a “monitoring sharing agreement” with cryptocurrency exchange Coinbase.
According to a filing with the Securities and Exchange Commission on June 29, the Nasdaq exchange has filed another application for a proposed rule change that would allow BlackRock’s Bitcoin (BTC) ETF to be listed. The filing included details of a June 8 agreement between Nasdaq and Coinbase “designed to complement the exchange’s market surveillance program” and provide access to data on spot BTC transactions.
The release of the SEC filing comes after ARK Investment Management amended its spot BTC ETF filing to include a monitoring sharing agreement with the Chicago Board Options Exchange (Cboe) and an unnamed U.S.-based crypto exchange contained. Some speculated at the time that the deal was with Coinbase, which would appear to conflict with BlackRock’s ETF filing.
Related: Will BlackRock’s ETF Boost Bitcoin’s Price?
The SEC reportedly said on June 30 that the crypto ETF filings filed with Nasdaq and the Cboe were not “clear enough and comprehensive,” suggesting that the filings are including additional information related to surveillance agreements. BlackRock first applied for the spot BTC ETF on June 15.
At the time of publication, the US Securities and Exchange Commission had not approved a spot ETF related to crypto investing, despite numerous requests from market participants. Following the rejection of its spot bitcoin ETF in June 2022, Grayscale Investments filed a lawsuit against the SEC, alleging the regulator’s failure to “treat similar investment vehicles consistently.”
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