Cboe's BZX Exchange named crypto exchange Coinbase as the market for its surveillance-sharing agreement when it refiled for its spot bitcoin exchange-traded fund application on Friday.
Fidelity, WisdomTree, VanEck, Galaxy/Invesco and BlackRock all filed for spot bitcoin ETFs over the past few weeks, hoping to succeed at launching a product the U.S. Securities and Exchange Commission has rejected for years. On Friday, the SEC told some of these issuers that their applications were"inadequate" because they didn't name the market that the fund sponsors are working with on their surveillance-sharing agreements.The SEC has called for surveillance-sharing agreements with markets of"significant size" in the past, arguing that this is necessary to prevent market manipulation or other unwanted behaviors and protect consumers.
Source: Digital Coin News (digitalcoinnews.net)
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