US cryptocurrency giant Coinbase saw its shares surge by 13% on 3 July following an announcement from exchange operator Cboe that it was collaborating with Coinbase to launch a spot Bitcoin exchange-traded fund (ETF) by asset management firm Fidelity. Cboe resubmitted an application to the US Securities and Exchange Commission (SEC) on 30 June, identifying Coinbase as its chosen crypto platform to help the exchange monitor manipulation in the ETF. This move comes in response to the SEC’s concerns over the absence of the crypto-trading platforms’ name in Cboe’s original filing that could aid in detecting fraudulent activities in underlying Bitcoin markets.
Source: https://www.reuters.com
