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SEC Reverses Decision, Includes Coinbase and Updates Bitcoin Application: A Global Cryptocurrency Breakthrough!

  • Cboe Digital Markets has resubmitted spot Bitcoin ETF applications that were previously rejected by the SEC.
  • The resubmitted applications include an updated “Surveillance-Sharing Agreement” with Coinbase.
  • Coinbase will be responsible for the custody of Bitcoin in relation to the ETFs.

Cboe Digital Markets Resubmits Spot Bitcoin ETF Applications with Coinbase Partnership

Cboe Digital Markets has taken a new approach in its pursuit of spot Bitcoin ETF approval. After the SEC rejected previous applications from investment firms such as BlackRock, WisdomTree, VanEck, Invesco, and Valkyrie, Cboe has decided to partner with Coinbase and resubmit the applications. The SEC cited a lack of clear and detailed information regarding the surveillance and sharing of processes that cover transactions outside the US as the reason for the rejections.

In an official announcement on its website, Cboe Digital Markets revealed that it has updated the “Surveillance-Sharing Agreement” with WisdomTree, VanEck, Invesco, and Fidelity, and resubmitted their spot Bitcoin ETF applications. Additionally, 21Shares and Ark Invest have also updated their applications and joined the group of investment firms. It was observed that Coinbase has been chosen as the counterparty in the updated applications, responsible for the custody of the Bitcoin involved in the ETFs.

Furthermore, sources have reported that Valkyrie and Bitwise have also reached agreements with Coinbase regarding custody services for their spot Bitcoin ETFs. However, BlackRock, whose application was submitted by Nasdaq and has already partnered with Coinbase for custody services, has not made any statements regarding the matter.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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