Cboe Has Resubmitted Spot Bitcoin ETF Applications for Fidelity, ARK Invest, and Other Issuers

Cboe's BZ X trading platform has resubmitted applications for spot bitcoin ETFs for several potential bitcoin ETF issuers, naming cryptocurrency trading platform Coinbase as its supervised sharing agreement partner platform, according to Coindesk.

In its resubmission, Cboe stated that the Coinbase platform represents a significant portion of the U.S. and U.S. dollar-denominated bitcoin trading market. The Spot BTC SSA [Supervisory Sharing Agreement] is expected to feature a supervisory sharing agreement between two ISG members that will allow ETF trading platforms to supplement access to data on spot bitcoin transactions that occur on Coinbase.

According to the Wall Street Journal yesterday, citing sources familiar with the matter, the SEC believes that the recently filed spot bitcoin ETF application does not identify the names of the spot bitcoin trading platforms with which it has entered into "data sharing agreements" and does not provide enough information about the details of those monitoring arrangements.