Cboe updates filings for spot bitcoin ETFs, names Coinbase as SSA partner

Quick Take

  • Cboe on Friday submitted updated 19b-4 filings for spot bitcoin ETFs, according to its website.

Cboe on Friday submitted updated 19b-4 filings for spot bitcoin ETFs, according to its website.

The updated filings were submitted for Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree Bitcoin Trust and Wise Origin Bitcoin Trust.

The move followed an earlier report from the Wall Street Journal that said the U.S. Securities and Exchange Commission told the Nasdaq and Cboe exchanges that recent filings from BlackRock, Fidelity and others for spot bitcoin ETF funds weren't "clear and comprehensive."

Cboe had said it intended to update its filings. Bitcoin fell as much as 4% after the WSJ report but has since pared losses to currently trade around $30,403.

Updated filings for spot bitcoin ETF

In the updated filing for Wise Origin Bitcoin Trust, a spot ETF proposed by Fidelity, Cboe said it expected to enter into a surveillance sharing agreement with Coinbase, Inc. Similar language was also included in the filings for Invesco, WisdomTree and Wise Origin. 

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Cboe also posted an amendment to a filing for the ARK 21Shares Bitcoin ETF that also names Coinbase as a partner for the surveillance-sharing agreement, a feature that was heralded as a development that could pave the way for approval after it was first included in a filing by Nasdaq for a BlackRock spot ETF earlier this month. 

Coinbase has been in its own lengthy fight with the SEC after the agency alleged in a lawsuit earlier this month that it was operating as an unregistered exchange. The company has been asking the SEC in court to write new rules for digital assets, something the regulator has so far resisted. 

(Updates with details on surveillance sharing agreements. With assistance from Sarah Wynn.)

 


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About Author

Nathan Crooks is the U.S managing editor at The Block, based in Miami. He was previously at Bloomberg News for 12 years, where he helmed coverage of South Florida after roles as a breaking news editor and bureau chief in Caracas, Venezuela. He's interviewed presidents, government ministers and CEOs, and, besides crypto, has covered major news events on the ground from earthquakes to hurricanes to the Chilean mine rescue in 2018. Nathan, a native of Clarion, Pennsylvania, holds a bachelor's degree from the Univers