C
boe Immediately Updates Bitcoin ETF Spot Profile After SEC Complaint
Exchange operator Cboe Global Markets Inc. updated the filings for the spot bitcoin ETF on its website shortly after the SEC said that the spot bitcoin ETF filings were not clear and comprehensive. The refreshed filing is intended to address concerns raised by the U.S. Securities and Exchange Commission (SEC). According to these people, the agency notified exchanges Nasdaq and Cboe Global Markets, which had submitted applications for asset managers such as BlackRock and Fidelity Investments, that the files needed to be more precise and thorough.
Cboe, on behalf of five issuers of a spot bitcoin ETF filed with the SEC on Friday. Updated filings have been submitted to the Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree Bitcoin Trust, and Wise Origin Bitcoin Trust. One key issue is that the exchanges did not name the cryptocurrency trading platforms they plan to enter into custody-sharing arrangements to help detect fraud in the underlying Bitcoin market. The updated document states that the product, The Spot BTC SSA, will show signs of a custody-sharing agreement split between the two. The filing says that setup will allow additional access to data related to spot Bitcoin transactions on Coinbase if the exchange determines it is necessary as part of a monitoring program.
