Asset manager BlackRock has filed a new application for a bitcoin exchange-traded fund (ETF) despite the Securities and Exchange Commission’s (SEC) concerns about potential fraud or manipulation in the spot market. The ETF would allow investors to gain exposure to bitcoin without owning the cryptocurrency itself. BlackRock aims to establish a surveillance-sharing agreement with Nasdaq and Coinbase to enhance market surveillance. While the SEC has approved bitcoin ETFs related to futures trading, no application for a spot market ETF has been approved so far.

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