The American derivatives and securities exchange network, Cboe Global Markets, filed amended applications to list spot Bitcoin exchange-traded funds (ETFs) yesterday (Tuesday). The amended applications propose to include Coinbase as a surveillance-sharing partner for the spot Bitcoin ETFs filed on behalf of Fidelity, VanEck, WisdomTree, and Invesco.

In the applications, which included a joint proposal by Ark Invest and 21Shares for a spot Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term ETF, Cboe stated that it agreed to enter into a surveillance-sharing agreement (SSA) with Coinbase on June 21. Additionally, the exchange said the agreement was expected to be implemented before the listing of the spot Bitcoin ETFs.

Cboe’s Surveillance-Sharing Agreement

The step is an attempt by Cboe to meet a requirement for an SSA set by the Securities and Exchange Commission (SEC). An SSA is an agreement entered into by a party listing a spot Bitcoin ETF and a spot exchange where the exchange is required to share information about any suspicious activity in the market with the regulator.

The SEC has in the past rejected applications for spot Bitcoin ETFs, saying that the proposals do not meet the standards to prevent fraud and market manipulation. Further, the SEC maintains that such standards can only be met if the applicants can demonstrate that they have a comprehensive SSA with a regulated market.

Following Nasdaq’s Steps

About two weeks ago, Nasdaq similarly refiled its application to list the spot Bitcoin ETF on behalf of BlackRock, the world’s leading asset management company. In the filing, the stock exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term similarly included an SSA with Coinbase.

BlackRock filed an application to list a spot Bitcoin ETF in mid-June, sparking a wave of similar filings from Ark Invest and Fidelity, among other asset managers. In the application, the asset management company stated that it would use the custodian services offered by Coinbase for the ETF.

However, Finance Magnates recently reported, citing sources who shared information with the Wall Street Journal, that the SEC had rejected the applications from Fidelity and BlackRock. According to the sources, the agency said the applications were neither sufficiently clear nor comprehensive.