Cboe has submitted amendments for five proposed spot bitcoin ETFs to say that it has “reached an agreement on terms” with Coinbase to enter into surveillance sharing agreements. This is a significant development in the race for the first spot bitcoin ETF, as more firms, including BlackRock and Fidelity, have listed Coinbase as a surveillance sharing partner. However, the U.S. Securities and Exchange Commission (SEC) has not yet approved a spot bitcoin ETF and has expressed concerns about fraud and market manipulation. The amendments were made for the Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin ETF, and ARK 21Shares Bitcoin ETF.
Key Points:
- Cboe has reached an agreement with Coinbase to enter into surveillance sharing agreements for proposed spot bitcoin ETFs.
- The race for the first spot bitcoin ETF continues, with firms like BlackRock and Fidelity also partnering with Coinbase.
- The SEC has not yet approved a spot bitcoin ETF and has concerns about fraud and market manipulation.
- Amendments were made for five proposed spot bitcoin ETFs.
- The amendments were made for the Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin ETF, and ARK 21Shares Bitcoin ETF.
Hot Take:
While the agreement between Cboe and Coinbase is a positive development for the potential approval of a spot bitcoin ETF, the SEC’s concerns about fraud and market manipulation may still pose challenges. It remains to be seen if these concerns can be addressed to the satisfaction of the SEC, but the race for the first spot bitcoin ETF continues to heat up with more firms joining as surveillance sharing partners.
