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, WisdonTree, and Invesco.
In the applications, which also included a joint proposal by Ark Invest and 21Shares for a spot Bitcoin 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.
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 for preventing fraud and market manipulation. The
SEC maintains that such standards can only be met if the applicants…
