Cboe’s Bitcoin ETF Filings

Five-spot Bitcoin (BTC) Exchange-Traded Fund (ETF) applications submitted by Cboe Global Markets now include a surveillance-sharing agreement (SSA) with Coinbase.

The United States Securities and Exchange Commission (SEC) filings for ETFs from Invesco, VanEck, WisdomTree, Fidelity, and the joint fund by ARK Invest and 21Shares were amended by Cboe on July 11.

Cboe stated that it had “reached an agreement on terms with Coinbase” for the June 21 settlement of SSAs. Before potentially offering the ETFs, the parties “expect to enter” an SSA, according to the initial filings for the ETFs.

“[An exchange needs] a comprehensive surveillance-sharing agreement with a regulated market of significant size related to the underlying or reference bitcoin assets.”

The SSAs are an effort to comply with the SEC’s standards for preventing fraudulent behavior and protecting investors, as outlined on March 10: Spot Bitcoin ETF applications have been an industry focal point as of late.

The filings by Fidelity, Invesco, Wisdom Tree, and Valkyrie follow the filing by BlackRock, a $10 trillion asset management firm, for SEC approval of an ETF.

The U.S. stock exchange Nasdaq resubmitted its application to list BlackRock’s exchange-traded fund (ETF) on June 29, also including an SSA with Coinbase.

According to Google Finance, Cboe’s filings drove Coinbase (COIN) shares up nearly 10% on June 11, the highest price since August 16.

Coinbase’s share price jumped nearly 10% with the latest SSA-related filing amendments. Source: Google Finance

Despite its involvement with Bitcoin ETF applications, Coinbase is currently engaged in a legal battle with the SEC for allegedly offering unregistered securities and cryptocurrencies.