Coinbase Shares Rise 13 Percent After Cboe Mentions Crypto Exchange in Bitcoin ETF Application 3f634h Technology News

The SEC had also raised the same concerns with Nasdaq over a similar recent filing. 4s391p

By Reuters | Updated: 4 July 2023 14:08 IST

Coinbase Shares Rise 13 Percent After Cboe Mentions Crypto Exchange in Bitcoin ETF Application

Photo Credit: Reuters w1s36

Cboe sought to address SEC concerns that its original filing did not name the crypto-trading platforms

Highlights

The SEC has rejected dozens of spot bitcoin ETF applications
SEC says they did not meet the standards designed to protect investors
The ETF industry is trying to find a way to address that concern

ment

Shares of Cboe said it was working with the crypto company in its effort to launch a spot bitcoin exchange-traded fund.

Cboe on Friday refilled an application with the ETF.

Cboe sought to address SEC concerns that its original filing did not name the crypto-trading platforms that would help it detect fraud in the underlying bitcoin markets, Reuters reported citing a person familiar with the matter.

Telegram-Backed TON Blockchain Adds Encryption to Messages: Details

The BlackRock, the person said.

The SEC has rejected dozens of spot bitcoin ETF applications in recent years, saying they did not meet the standards designed to prevent fraudulent and manipulative practices and protect investors. The ETF industry is trying to find a way to address that concern.

Coinbase shares closed up 11.7 percent at $79.93 (roughly Rs. 6,600) on Monday, and have more than doubled this year.

BTC, ETH Bag Small Gains, Overall Crypto Market Remains Lacklustre

Bitcoin, the world's largest cryptocurrency, jumped to a more than one-year high last month after BlackRock and Fidelity filed to launch bitcoin ETFs.

Those filings came weeks after the SEC sued Coinbase and Binance, alleging violation of its rules, in a significant regulatory crackdown on the digital asset sector. The pair deny the allegations.

Bitcoin was trading at $31,029 (roughly Rs. 25,44,500), up 1.32 percent while Ethereum, the world's second-largest cryptocurrency, rose 1.94 percent to $1,964 (roughly Rs. 1,61,100).

Crypto Becomes Regulated Financial Sector in UK: Details

© Thomson Reuters 2023

From the Nothing Phone 2 to the Motorola Razr 40 Ultra, several new smartphones are expected to make their debeut in July. We discuss all of the most exciting smartphones coming this month and more on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

links may be automatically generated - see our ethics statement for details.

Cryptocurrency Prices across Indian exchanges

Comments

For the latest reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.