Cboe refiles Fidelity bitcoin ETF application, plans Coinbase policing partnership

economictimes.indiatimes.com:

Cboe on Friday refiled an application with the U.S. securities regulator to launch a bitcoin exchange-traded fund by asset manager Fidelity, saying it would work with global crypto exchange Coinbase to prevent any market manipulation in the process. The refreshed filing aims to address concerns raised by the U.S. Securities and Exchange Commission (SEC), which told Cboe that its recent filing to list and trade a spot bitcoin ETF from Fidelity was unclear and incomplete, according to a person familiar with the matter. The SEC raised the same concerns with Nasdaq over a recent filing for a spot bitcoin ETF from BlackRock, the person said. A key issue was that the exchanges did not name the crypto-trading platforms with which it planned to enter into surveillance-sharing agreements to help detect fraud in the underlying bitcoin markets, the person said. Cboe also refiled listing applications with the SEC on Friday for bitcoin ETFs by WisdomTree, VanEck, and a joint effort from Invesco and Galaxy. It said in all of the filings it plans to enter into a surveillance-sharing agreement with Coinbase.

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The SEC, Cboe, Nasdaq, Fidelity, and BlackRock declined to comment. Coinbase was not immediately available for comment. The SEC this month sued Coinbase for failing to register as an exchange. According to Cboe's Fidelity bitcoin ETF filing, The company's platform represented roughly half of U.S. dollar-bitcoin