BlackRock’s Bitcoin ETF Resubmits Application ─ Coinbase Specified as Partner in Monitoring Sharing Agreement | CoinDesk JAPAN | CoinDesk Japan

Nasdaq has resubmitted its application for BlackRock’s Bitcoin ETF, citing US cryptocurrency trading giant Coinbase as a partner in a so-called “surveillance sharing agreement.” clarified.

The US Securities and Exchange Commission (SEC) is said to have called the filing “insufficient” if it did not specify partners in the surveillance sharing agreement.

Several other applications, including BlackRock rival Fidelity, have also been resubmitted, specifying Coinbase as a partner in the surveillance sharing agreement. In order to offer a Bitcoin ETF, past decisions by the SEC would require entering into a monitoring sharing agreement with a sizeable regulated market.

According to documents refiled by Nasdaq, Coinbase accounts for about 56% of dollar-denominated bitcoin transactions on U.S.-based platforms.

BlackRock’s original application, filed on June 15, referred to a surveillance-sharing agreement, but did not name any partners.

The Wall Street Journal reported on May 30 that the SEC said the listing application to Nasdaq and Cboe BZX Exchange, where the Bitcoin ETF would be listed, did not specify partners in the surveillance sharing agreement. It said it was “insufficient” because of this, citing an anonymous source.

After that, the Seebo BZX exchange resubmitted the application as a partner of the monitoring sharing agreement, specifying Coinbase. Cboe has Fidelity, WisdomTree, VanEck, Ark Invest and Galaxy/Invesco all set to list Bitcoin ETFs.

｜Translation: CoinDesk JAPAN
｜Editing: Takayuki Masuda
| Image: BlackRock’s office (Wikimedia Commons)
| Original: BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner