The Cboe BZX Exchange has amended its filing for the proposed ARK 21Shares Bitcoin ETF to include a surveillance sharing agreement, similar to one used by BlackRock for their spot bitcoin fund. The exchange is taking additional steps to detect and deter fraud and market manipulation. They expect to enter into a bilateral agreement with a US-based bitcoin spot trading platform to supplement their market surveillance program. This amended filing could potentially put ARK in competition with BlackRock to gain approval for a spot bitcoin ETF, as their original filing came months before BlackRock’s. Other filings for spot funds from WisdomTree Bitcoin Trust, VanEck Bitcoin Trust, and Invesco Galaxy Bitcoin ETF also make use of the surveillance sharing agreement.
– Cboe BZX Exchange amended filing for ARK 21Shares Bitcoin ETF
– Includes a surveillance sharing agreement to deter fraud and market manipulation
– Expects to enter into an agreement with a US-based spot trading platform
– ARK potentially in competition with BlackRock for first approval of spot bitcoin ETF
– Other filings for spot funds also using the surveillance sharing agreement
In conclusion, the Cboe BZX Exchange has made changes to their filing for the ARK 21Shares Bitcoin ETF, including a surveillance sharing agreement to enhance their ability to detect and deter fraud and market manipulation. This move puts them in competition with BlackRock, who also included a similar agreement in their filing for a spot bitcoin fund. It remains to be seen which firm will receive approval for a spot bitcoin ETF, as the SEC has never approved one before. However, the use of surveillance sharing agreements in various filings indicates a growing interest in addressing concerns of fraud and manipulation in the market.
Continue reading on Theblock.co
By
By
By
By
By