Cboe Exchange Refiles Five Bitcoin Spot ETF Applications with the SEC
- The Cboe exchange operator has refiled five Bitcoin spot ETFs with the SEC after amending them.
- The amendment includes surveillance-sharing agreements (SSA) with crypto exchange Coinbase.
- Cboe refiled for ETFs offered by Invesco, VanEck, WisdomTree, Fidelity, and the joint ETF by ARK and 21Shares.
- The parties were “expecting to enter” an SSA prior to potentially offering the Bitcoin spot ETFs.
As per a new turn of events, popular exchange operator Cboe exchange has refiled applications for five Bitcoin spot exchange-traded funds after amending the filings. The applications now include a surveillance-sharing agreement (SSA) with the largest crypto exchange in the United States, Coinbase. The agreements are part of the strategy to appease the United States Securities and Exchange Commission so that the agency might greenlight the ETFs.
According to the official confirmation from the Cboe exchange operator, it has amended its filings with the SEC for Bitcoin spot ETFs offered by Invesco, VanEck, WisdomTree, Fidelity, and the joint fund by ARK Invest and 21Shares. These ETFs have either been rejected or are pending approval from the regulatory authority, and industry players are waiting to see who will get the first mover advantage.
Cboe noted that it had “reached an agreement on terms with Coinbase” to enter into the surveillance-sharing agreements for the five Bitcoin spot ETF applications, adding that the agreement with the leading exchange was settled on June 21. Moreover, the initial refilings confirmed that the parties were “expecting to enter” an SSA prior to potentially offering the Bitcoin spot ETFs.
The SSAs are aimed at complying with the standards placed by the SEC to prevent fraudulent conduct and protect investors that aim to get exposure to the world’s largest crypto asset, Bitcoin (BTC). The regulator stated that “an exchange needs a comprehensive surveillance-sharing agreement with a regulated market of significant size related to the underlying or reference bitcoin assets.”
As reported earlier by BitcoinWisdom, an American multinational financial services firm headquartered in New York, JPMorgan Chase & Co., stated that the approval of a spot Bitcoin ETF might not be a game changer for the broader crypto industry. JPMorgan managing director Nikolaos Panigirtzoglou said that spot ETFs have overall “attracted little investor interest” in other regions in the past two years, further “failing to benefit from investor outflows from gold ETFs.”
On the other hand, the world’s largest asset management firm, BlackRock, also recently filed for a Bitcoin spot ETF after entering into an SSA with Coinbase.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
