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Cboe refilled five spot bitcoin ETF proposals Friday, following reports that the SEC had requested more information. The Wall Street Journal had reported this morning that previous filings were ‘inadequate’, a characterization that appeared to cause a loss of faith in the cryptocurrency earlier in the day. However, on closer reading, the WSJ report merely noted that the SEC wanted updated language and detail, and had made no decisions on the merits of the ETF applications..<\/p>\n
The filings, in their second iteration, have named Coinbase<\/a> as part of the surveillance-sharing agreement for Wise Origin, WisdomTree, VanEck and Invesco Galaxy’s ETF applications.<\/p>\n Ark tapped \u201cCoinbase Custody Trust Company, LLC, a third-party regulated custodian (the \u201cCustodian\u201d), will be responsible for custody of the Trust’s bitcoin\u201d according to its filing. <\/p>\n The updated document said that the product, The Spot BTC SSA, would “have the hallmarks of a surveillance-sharing agreement” split between two parties. That setup would permit “supplemental access to data regarding spot Bitcoin trades occurring on Coinbase if the exchange determines it is necessary as part of its surveillance program,” the filing said.<\/p>\n Additional refilled applications contained similar language and related updates. <\/p>\n The SEC<\/a> told both Cboe and Nasdaq representatives that the filings lacked sufficient details to appease regulators, The Wall Street Journal Reported<\/a>, Key among those details, reportedly, was a lack of information around surveillance sharing agreements with bitcoin exchanges designed to safeguard the ETF products. <\/p>\n The updated filings come after Wall Street firms rushed to file \u2014 or refile in some cases \u2014 spot bitcoin etf proposal<\/a> in the wake of BlackRock’s filing on June 15. <\/p>\n BlackRock also plans to tap Coinbase as its crypto custodian<\/a>,<\/p>\n The refillings come a day after Fidelity filed for its spot bitcoin ETF.<\/p>\n The wave of filings contains the same language<\/a>: around surveillance-sharing agreements in the hopes that the SEC will greenlight a spot bitcoin ETF.<\/p>\n This is a developing story.<\/em><\/p>\n Get the day’s top crypto news and insights delivered to your email every evening. Subscribe to Blockworks’ free newsletter<\/a> now.<\/strong><\/p>\n Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can’t-miss tweets and more from Blockworks Research’s Daily Debrief<\/a>,<\/strong><\/p>\n Can’t wait? Get our news the fastest way possible. Join us on Telegram<\/a> and follow us on google news<\/a>,<\/strong><\/p>\n Cboe refilled five spot bitcoin ETF proposals Friday, following reports that the SEC had requested more information. The Wall Street Journal had reported this morning that previous filings were ‘inadequate’, a characterization that appeared to cause a loss of faith in the cryptocurrency earlier in the day. However, on closer reading, the WSJ report merely […]<\/p>\n","protected":false},"author":2,"featured_media":116323,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-116322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/116322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=116322"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/116322\/revisions"}],"predecessor-version":[{"id":116324,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/116322\/revisions\/116324"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/116323"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=116322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=116322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=116322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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