Coinbase Stock Rallies As CBOE Amends Bitcoin ETF Applications

Crypto Market News: The recent notice from the U.S. Securities and Exchange Commission (SEC) that the Bitcoin ETF applications were not sufficiently adequate or comprehensive brought US based crypto exchange Coinbase to the limelight. In a latest, U.S. options exchange CBOE on Tuesday filed amendments for all the five of its Bitcoin ETF applications. The new filings effectively showed that it reached an agreement with Coinbase to enter into a surveillance sharing agreement. Meanwhile, the Coinbase stock price rose significantly on Tuesday, even as the wider financial markets remain largely flat over anticipation of the consumer price index (CPI) data.

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The new filing showed that CBOE reached an agreement with Coinbase on June 21, 2023, based on which the two parties will finalize and execute an agreement. Earlier, Blackrock, the world’s largest asset manager, also reached an surveillance sharing agreement (SSA) with Coinbase. Other companies like Valkyrie, Bitwise, Invesco, and WisdomTree have also applied for approval of Bitcoin ETFs.

CBOE Reaches SSA Agreement With Coinbase For Bitcoin ETFs

The latest filings showed a clear change from “expecting to enter” an agreement to “reached an agreement on terms.” The filing said,

“On June 21, 2023, the Exchange reached an agreement on terms with Coinbase Inc., an operator of a United States-based spot trading platform for Bitcoin.”

The Coinbase Global Inc stock price ($COIN) saw an impressive 10% jump on Tuesday, thanks to the Cboe amendment news.

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