{"id":2158730,"date":"2023-07-03T21:16:46","date_gmt":"2023-07-04T01:16:46","guid":{"rendered":"https:\/\/platoaistream.net\/plato-data\/blackrock-names-coinbase-surveillance-sharing-partner\/"},"modified":"2023-07-03T21:16:46","modified_gmt":"2023-07-04T01:16:46","slug":"blackrock-names-coinbase-surveillance-sharing-partner","status":"publish","type":"station","link":"https:\/\/platoaistream.net\/plato-data\/blackrock-names-coinbase-surveillance-sharing-partner\/","title":{"rendered":"BlackRock Names Coinbase \u2018Surveillance-Sharing\u2019 Partner"},"content":{"rendered":"
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An updated filing for BlackRock\u2019s spot Bitcoin ETF includes a \u201csurveillance sharing agreement\u201d with crypto exchange Coinbase.<\/span><\/p>\n<\/p><\/div>\n

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Photo by Andr\u00e9 Fran\u00e7ois McKenzie on Unsplash <\/p>\n<\/p><\/div><\/div>\n

Posted July 3, 2023 at 9:16 pm EST. <\/p>\n

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A June 29 <\/span>filing<\/span><\/a> with the U.S. Securities and Exchange Commission (SEC), resubmitted by Nasdaq, includes details of an agreement between the stock exchange and Coinbase.<\/span><\/p>\n

The Spot Bitcoin surveillance sharing agreement (SSA) would give the Nasdaq supplemental access to Bitcoin trade data on Coinbase, with the option to request further information to detect potential market manipulation.<\/span><\/p>\n

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JUST IN: BlackRock has re-filed for spot bitcoin ETF, the resubmission was dated 6\/29, Nasdaq just posted tho. They just added Coinbase like everyone else. pic.twitter.com\/UGq46DdLgu<\/a>\n<\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) July 3, 2023<\/a><\/p>\n<\/blockquote>\n

Last week, ARK Investment Management amended its spot Bitcoin ETF application to include a surveillance sharing agreement between Chicago Board Options Exchange (Cboe) and a U.S.-based crypto exchange.<\/span> <\/span><\/p>\n

At the time, Bloomberg ETF analyst Eric Balchunas speculated on Twitter that the unnamed exchange was most likely Coinbase. If ARK\u2019s SSA is in fact with Coinbase, it would likely be in direct conflict with BlackRock\u2019s ETF application, according to some market participants.<\/span> <\/span><\/p>\n

\u201cHave to assume BlackRock was already well aware of ARK\u2019s filing\u2026They\u2019re not rolling out the red carpet for another issuer. Guessing Coinbase enters into SSA w\/ Nasdaq first (and maybe only \u2013 at least initially),\u201d <\/span>tweeted<\/span><\/a> Nate Geraci, co-founder of The ETF Institute.<\/span><\/p>\n

As the race to launch the first spot Bitcoin ETF has been building up, the SEC\u2019s stance on approving these products to trade remains relatively unchanged. Last week, <\/span>The Wall Street Journal <\/span><\/i>reported<\/span><\/i><\/a> that the regulator deemed the newly filed spot Bitcoin ETF applications to be inadequate without the name of specific surveillance sharing partners.<\/span><\/p>\n<\/div>\n