Last month, BlackRock filed for a Bicoin ETF with the SEC. The planned ETF which aims to offer users investment opportunities in bitcoin.
Nasdaq submits updated filing for BlackRock’s Bitcoin ETF
The Nasdaq filed Monday, July 3, a file with the SEC. This is a formality to update the information previously provided to the regulator regarding the iShares Bitcoin Trust. This is the spot bitcoin ETF, offered by the firm BlackRock.
This procedure, based on Form 19b-4, is intended to provide supplemental information to the SEC. It is in this context that the Nasdaq has concluded an agreement with the crypto firm Coinbase. A deal under which the two companies will jointly provide market surveillance.
“The Spot BTC SSA is expected to be a bilateral surveillance sharing agreement between Nasdaq and Coinbase, intended to complement the exchange’s market surveillance program”can we read in the document.
This formalization does not occur by chance. It follows remarks made to the Nasdaq in connection with the procedure recently initiated by BlackRock. Remarks, highlighting the lack of clarity and incompleteness of the initial documents provided by the Nasdaq.
The SEC made the same remarks to the Chicago Board Options Exchange (Cboe) regarding Fidelity’s Bitcoin ETF application. The exchange was quick to update documents related to the various spot bitcoin ETF proposals.
It must be said that neither the Nasdaq nor the Cboe are particularly involved in the procedure for granting a Bitcoin ETF. However, it is common for these exchanges to play a supporting role in the ETF application process.
It is under the prism that the intervention of the Nasdaq in this procedure, the fate of which depends exclusively on the regulator, can be understood. Some think that the latter could also block the procedure as he is used to.
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