Coinbase to Partner with Fidelity and Other Bitcoin ETFs for Surveillance – Here's the Latest
Last week, a Wall Street Journal (WSJ) report unveiled the dissatisfaction of SEC insiders with the recent batch of spot bitcoin ETF applications from prominent financial institutions like Blackrock, Wisdomtree, Valkyrie, Fidelity, Ark Investment, and Invesco.
Following this revelation, four of the firms mentioned, namely Fidelity, Vaneck, Invesco, and Wisdomtree took action and resubmitted their filings.
WSJ contributor Vicky Ge Huang, citing "people familiar with the matter," disclosed that the regulatory body found the ETF registrations inadequate, notifying Cboe and Nasdaq about this development.
Responding to the SEC's feedback, Cboe, an exchange operator, confirmed its intention to resubmit its spot bitcoin ETF filings.
Staying true to their word, Cboe collaborated with global crypto exchange Coinbase to prevent potential market manipulation and made the necessary updates and amendments to the filings submitted initially by Fidelity, Vaneck, Invesco, and Wisdomtree.
On Friday, Cboe officially refilled its application with the U.S. securities regulator to launch a bitcoin exchange-traded fund managed by Fidelity, addressing the SEC's concerns and clarifying any previous ambiguity or incompleteness in their filing.
The goal is to ensure a smooth and compliant process for the ETF launch while preventing market manipulation.
A significant update occurred on Friday when Coinbase officially designated a surveillance-sharing agreement (SSA) partner.
It is worth mentioning that although Blackrock and Ark did not refile their applications, Blackrock had previously indicated Coinbase as its chosen SSA partner.
In its amended applications, Cboe emphasized that Coinbase's platform plays a significant role in U.S.-based and
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