The Securities and Exchange Commission (SEC) has criticized recent filings for a spot Bitcoin exchange-traded fund (ETF) in the US, stating that they are inadequate. The SEC has notified Nasdaq and the Chicago Board Options Exchange (Cboe), representing asset managers, that their filings are not sufficiently clear and comprehensive. The issue lies in the lack of specific information about surveillance-sharing agreements with Bitcoin exchanges. The asset managers can resubmit the filings after addressing these deficiencies. The spot Bitcoin market is currently unregulated, a situation the Commodity Futures Trading Commission wants to change.

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