BlackRock, the world’s largest asset manager, has resubmitted its filing through Nasdaq to include new details to launch an exchange-traded fund backed by bitcoin.
In the latest filing on Monday, Nasdaq, where BlackRock
BLK,
bitcoin ETF will be listed, named Coinbase Global Inc.
COIN,
as its partner for a surveillance sharing agreement, which some industry participants speculated as a potential key to win the approval from the U.S. Securities and Exchange Commission.
The SEC approved several bitcoin futures-based ETFs in the past, but has yet to green light anything that invests directly in bitcoin itself.
BlackRock’s latest move comes after The Wall Street Journal reported on Friday that the SEC deemed the recent spot bitcoin ETF applications filed by the firm and other asset managers inadequate.
Nasdaq “expects to receive market data for orders and trades from Coinbase,” which it will utilize in surveillance of the trading of BlackRock bitcoin ETF, according to the latest filing.
Cboe Options Exchange on Friday afternoon refiled applications for several other firms that were looking to launch spot bitcoin ETFs, such as Fidelity, WisdomTree
WT,
VanEck and Invesco
IVZ,
These applications also listed Coinbase as the exchange’s surveillance-sharing partner.
Bitcoin
BTCUSD,
rose 2% on Monday to around $31,145, according to CoinDesk data. The cryptocurrency has rallied over 25% since June 15, when BlackRock filed its original paperwork for a spot bitcoin ETF.
Coinbase
COIN,
shares jumped almost 12% Monday to around $79.93, according to Dow Jones market data.
Read: Coinbase stock explodes higher as enthusiasm builds for spot bitcoin ETFs
Read the full article here
