Cboe Refiles 5 Bitcoin ETFs to Include Coinbase Custodial Agreement

Exchange operator Cobo Global Markets has amended five spot bitcoin (BTC) exchange-traded fund (ETF) applications to include a custody-sharing agreement (SSA) with Coinbase.

On July 11, Cboe amended the filing for the ETF with the United States Securities and Exchange Commission (SEC). invesco, VanEck, wisdom tree, devotion to truth and add Fund By ark investment and 21shares.

Cobo said it has “reached an agreement with Coinbase on the terms” to enter into the SSA, which is set to take place on June 21. The initial filing for the ETF stated that the parties were “expecting to enter into” an SSA prior to potentially offering the ETF.

The SSA is an attempt to meet the SEC’s standards aimed at preventing fraudulent conduct and protecting investors. mentioned By the regulator on 10 March:

“(An exchange is required to have a comprehensive surveillance-sharing agreement with a regulated market of significant size relating to the underlying or reference bitcoin asset.”)

Spot bitcoin ETF applications have been a focus point for the industry lately. The filings by Fidelity, Invesco, Wisdom Tree and Valkyrie follow $10 trillion asset management firm BlackRock, which also filed an ETF for SEC approval.

Connected: Why would bitcoin ETF approval be a big deal?

On June 29, the US stock exchange Nasdaq also re-filed its application to list BlackRock’s ETF, which included SSA with Coinbase.

The Cboe’s filing pushed Coinbase (COIN) shares up nearly 10% on June 11, their highest price since August 16. According Google for Finance.

Despite being involved in bitcoin ETF applications, Coinbase is currently battling a lawsuit with the SEC for allegedly offering cryptocurrencies that the regulator considers unregistered securities.

magazine: Asia Express: Hong Kong Crypto ETFs Under Fire, Binance Warns Over Maverick FOMO, Poly Hack