Nasdaq has refiled a 19b-4 form for the iShares Bitcoin Trust, a spot bitcoin ETF, with BlackRock leading the way. The exchange has reached an agreement with Coinbase to enter into a surveillance-sharing agreement, aiming to supplement its market surveillance program. The move comes after the SEC told Nasdaq and Cboe that recent filings for spot bitcoin ETFs were not “clear and comprehensive.” Cboe has also updated its filings for separate spot bitcoin ETF proposals and expects to enter into surveillance sharing agreements with Coinbase. Despite concerns of fraud and market manipulation, the race for a spot bitcoin ETF continues.
– Nasdaq has refiled a 19b-4 form for the iShares Bitcoin Trust with BlackRock.
– Nasdaq and Coinbase are expected to enter into a surveillance-sharing agreement.
– The SEC has raised concerns about the clarity and comprehensiveness of recent spot bitcoin ETF filings.
– Cboe has updated its filings and expects to enter into surveillance sharing agreements with Coinbase.
– The approval of a spot bitcoin ETF by the SEC is still pending due to concerns about fraud and market manipulation.
Closing paragraph: Although the SEC has expressed concerns about the clarity and comprehensiveness of spot bitcoin ETF filings, Nasdaq and Cboe are determined to push forward. By entering into surveillance-sharing agreements with Coinbase, they aim to address these concerns and enhance their market surveillance programs. The refiled 19b-4 form for the iShares Bitcoin Trust shows the industry’s determination to launch a spot bitcoin ETF, despite regulatory obstacles.
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