Cboe Refiles 5 Bitcoin ETFs to Include Coinbase Monitoring Agreements
Exchange operator Cboe Global Markets has amended five spot Bitcoin (BTC) Exchange-Traded Fund (ETF) applications to include a Surveillance Sharing Agreement (SSA) with Coinbase.
On July 11, Cboe amended filings with the United States Securities and Exchange Commission (SEC) for the ETFs of Invesco, VanEck, WisdomTree, Fidelity and the mutual fund of ARK Invest and 21Shares.
Cboe said it had “reached an agreement on terms with Coinbase” to enter into the SSAs that were settled on June 21. The initial filings for the ETFs stated that the parties “expect to enter into” an SSA before potentially offering the ETFs.
The SSAs are an attempt to meet the SEC̵[ads1]7;s standards aimed at preventing misconduct and protecting investors, as outlined by the regulator on March 10:
“[An exchange needs] a comprehensive monitoring sharing agreement with a regulated market of significant size relating to the underlying or reference bitcoin assets.”
Spot Bitcoin ETF applications have been a focal point for the industry lately. The filings by Fidelity, Invesco, Wisdom Tree and Valkyrie follow $10 trillion asset management firm BlackRock, which also filed an ETF for SEC approval.
Related: Why a Bitcoin ETF Approval Would Be a Big Deal
On June 29, the American stock exchange Nasdaq also submitted its application to list BlackRock’s ETF, equivalent to an SSA with Coinbase.
Cboe’s filings pushed Coinbase (COIN) shares up nearly 10% on June 11, hitting their highest price since August 16, according to Google Finance.
Despite its involvement with Bitcoin ETF applications, Coinbase is currently fighting a lawsuit with the SEC for allegedly offering cryptocurrencies the regulator considers to be unregistered securities.
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