Cboe resubmits five-file Bitcoin ETF application, confirms monitoring sharing agreement with Coinbase

The Chicago Board Options Exchange (Cboe) submitted amendments for 5 Bitcoin ETFs on July 12, stating that they have reached an agreement with Coinbase to sign a surveillance sharing agreement. Coinbase's COIN surged nearly 10% on the news, with a 165% increase in value so far this year.

Cboe and Coinbase Sign Monitoring Sharing Agreement

Prior to this, several fund institutions submitted applications following the format of BlackRock's ETF documents, but The Wall Street Journal reported at the end of June that the U.S. Securities and Exchange Commission (SEC) believed that the Bitcoin spot ETF application led by BlackRock lacked clear and comprehensive information.

The SEC pointed out that these ETF applicant institutions did not disclose which exchange they planned to sign a monitoring sharing agreement with, nor did they provide detailed information about the monitoring details, so the applications were rejected.

In response, the applicant institutions followed BlackRock's lead in modifying their application documents and chose Coinbase as the monitoring sharing agreement partner for the spot ETF.

• The Wall Street Journal: SEC Says BlackRock and Other Bitcoin Spot ETF Data is Insufficient

• BlackRock Resubmits Bitcoin Spot ETF Application, Coinbase Provides Market Oversight

Meanwhile, the Chicago Board Options Exchange (Cboe) submitted amendments for 5 Bitcoin ETFs on July 12, stating that they have reached agreement terms with Coinbase to sign a monitoring sharing agreement.

The 5 ETF applicant institutions include:

• VanEck

• WisdomTree

• Invesco

• Fidelity

• ARK and 21Shares

Coinbase Surges 165% This Year

Coinbase surged nearly 10% after opening last night, with a year-to-date increase of 165%.

In fact, since being sued by the SEC on June 6, Coinbase's stock price had dropped to $46 at one point, but has since nearly doubled to $89.15.