- Coinbase will serve as SSA partner
- Two days ago, Cboe re-filed for spot bitcoin-ETF
Nasdaq files new bid for spot bitcoin-ETF from BlackRock, and Coinbase will serve as monitoring partner. The bid for iShares Bitcoin Trust will now be similar to other companies.</nbsp;
The exchange announced that it has reached an agreement with cryptocurrency exchange Coinbase regarding joint surveillance, with the hope of making a final decision before trading begins. The statement writes:
“A bilateral joint surveillance agreement between Nasdaq and Coinbase to create an SSA Spot BTC is in place. It will complement the exchange’s market surveillance program.”
The action was carried out after the U.S. Securities and Exchange Commission called “inadequate” bids for spot bitcoin ETFs. In a statement, the SEC wrote that the filings by BlackRock, Fidelity and others did not meet the requirements of clarity and comprehensiveness.
Cboe then quickly updated its documentation on individual proposals. Language was included that the exchange plans to enter into a joint surveillance agreement with Coinbase.
The agency has yet to approve a spot bitcoin ETF. The proposals could face obstruction from the Commission, as it has raised concerns about the potential for fraud and market manipulation in pre-applications.
For more on what a bitcoin-ETF is, read our piece.