- The US options exchange CBOE has submitted a new regulation by making changes for five Bitcoin
- The new applications effectively demonstrated that it reached an agreement with Coinbase for sharing supervision.
- Previously, Blackrock, the world’s largest asset manager, had also made a supervision sharing agreement (SSA) with Coinbase.
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Cboe, which conducts spot Bitcoin ETF applications for investment management firms, announced that an agreement has been reached with the cryptocurrency exchange Coinbase.
Cboe Updates Spot Bitcoin ETF Applications
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The latest statement of the US Securities and Exchange Commission (SEC) highlighted Coinbase as the Bitcoin ETF applications were deemed insufficient or comprehensive. Recently, the US options exchange CBOE submitted a new regulation by making changes for five Bitcoin ETF applications.
The new applications effectively demonstrated that it reached an agreement with Coinbase for sharing supervision. Meanwhile, despite the expectation of consumer price index (CPI) data, which generally leads to stagnation in the overall financial markets, Coinbase’s stock price rose significantly on Tuesday.
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The new application shows that CBOE reached an agreement with Coinbase on June 21, 2023. According to this agreement, the parties will finalize and implement an agreement.
Previously, Blackrock, the world’s largest asset manager, had also made a supervision sharing agreement (SSA) with Coinbase. Other companies such as Valkyrie, Bitwise, Invesco, and WisdomTree have also applied for approval of Bitcoin ETFs.
CBOE Reaches SSA Agreement with Coinbase for Bitcoin ETFs
The new applications showed a clear change from the phrase “waiting for an agreement” to “an agreement has been reached on the terms.” The application included the following statement:
“The Exchange has reached an agreement on the terms with Coinbase Inc., a US-based spot trading platform for Bitcoin, on June 21, 2023.”
The stock price of Coinbase Global Inc. (COIN) increased impressively by 10% on Tuesday due to Cboe’s news of the changes.