Coinbase Stock Rises After CBOE Amends Bitcoin ETF Applications
On Tuesday, upon news of the CBOE’s revision to Bitcoin ETF applications, Coinbase’s stock price jumped considerably.
Coinbase, a cryptocurrency exchange based in the United States, has recently been in the spotlight due to a notice from the U.S. Securities and Exchange Commision (SEC) that Bitcoin ETF filings were not acceptable or complete. On Tuesday, the CBOE options exchange in the United States submitted revised applications for all five of its Bitcoin ETFs.
According to the latest filings, the company has agreed to enter into a surveillance sharing deal with Coinbase. While the rest of the financial markets were relatively quiet on Tuesday in preparation for the release of consumer price index (CPI) data, Coinbase’s stock price jumped considerably.
According to the latest filing, CBOE and Coinbase agreed to finalise and execute an agreement on June 21, 2023. The largest asset management in the world, Blackrock, also recently signed an SSA with Coinbase. Valkyrie, Bitwise, Invesco, and WisdomTree are among the other firms that have sought regulatory clearance to launch Bitcoin ETFs.
CBOE and Coinbase Sign SSA for Bitcoin ETFs
It was made abundantly evident in the most recent documents that the phrase “expecting to enter” had been replaced with “reached an agreement on terms.” It was stated in the application,
According to a press release dated June 21, 2023, “the Exchange reached an agreement on terms with Coinbase Inc., a provider of Bitcoin spot trading platforms in the United States.”
The announcement of the Cboe amendment caused a significant increase in the price of Coinbase Global Inc stock ($COIN) on Tuesday, by around 10%.
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