Exchange operator Cboe Global Markets has amended five spot bitcoin (BTC) exchange-traded fund (ETF) applications to include a supervisory sharing agreement (SSA) with Coinbase.
On July 11, Cboe amended its ETF filing with the Securities and Exchange Commission (SEC) Invesco, Van Eck, wisdom Tree, Fidelity and joint fund go through Ark Investment and 21 shares.
Cboe said it had “reached an agreement with Coinbase on the terms of the SSA,” which was settled on June 21. The ETF’s initial filing states that the parties “expect to enter into an SSA prior to the possible offering of the ETF.”
The SSA is designed to meet the SEC’s standards designed to prevent fraud and protect investors because overview March 10 Regulator:
“(The exchange needs to) have a comprehensive oversight sharing agreement with a sizable regulated market related to underlying or reference bitcoin assets.”
Bitcoin spot ETF applications have recently become the focus of attention in the industry. Fidelity, Invesco, Wisdom Tree and Valkyrie have previously filed documents, and $10 trillion asset manager BlackRock has also filed an ETF application with the SEC.
related: Why a Bitcoin ETF Approval Will Be a Big Deal
On June 29, the American stock exchange Nasdaq also resubmitted the listing application of BlackRock ETF, which also included the SSA with Coinbase.
The Cboe filing pushed Coinbase (COIN) shares up nearly 10% on June 11, the highest price since Aug. 16. according to to Google Finance.
Despite its involvement in the bitcoin ETF application, Coinbase is currently filing a lawsuit with the SEC alleging it offered cryptocurrencies that regulators deemed unregistered securities.
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