Nasdaq has resubmitted its application to the US Securities and Exchange Commission (SEC) to list a bitcoin exchange-traded fund (ETF) offered by BlackRock. The updated filing includes new details and highlights the involvement of Coinbase in providing market surveillance support for the proposed ETF. The SEC has expressed concerns about the clarity and completeness of Nasdaq’s original filing and has previously rejected spot bitcoin ETF applications due to concerns about market manipulation, investor protection, and lack of market surveillance. The collaboration between Nasdaq, BlackRock, and Coinbase aims to address these concerns and provide a secure investment vehicle for market participants. The outcome of the application has broader implications for the digital asset market, potentially opening the door for other issuers to launch their own bitcoin ETFs.
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