Odaily Planet Daily News The US SEC stated in a letter on Friday that it is seeking public comments on the application for the listing of the first bitcoin spot ETF on the Cboe BZX Exchange.
First, the SEC asked the public's thoughts on whether the proposed ETF would be protected from "fraudulent and manipulative acts and practices," and whether the bitcoin market is inherently vulnerable to manipulation. This issue is at the heart of the agency's hesitancy in approving a bitcoin spot ETF so far.
The second open question is: Do commenters agree with BZX exchange that CME (CME bitcoin futures trading platform) represents a sizable regulated market relative to spot bitcoin. In particular, the SEC wants to know whether someone trying to manipulate the bitcoin market must trade on the CME.
The final SEC question concerned Coinbase: Do commenters agree with the exchange’s assertion that an oversight sharing agreement with Coinbase would help detect, investigate, and deter fraud and manipulation of commodity-based trust shares. (Crypto Potato)
According to news yesterday, the US SEC extended the review time for the Bitcoin ETF applications of Ark Investment Management and 21Shares, and the SEC requested comments on the proposal for the ARK Invest spot Bitcoin ETF to be listed on BZX.