• Valkyrie Investments refiled its spot-Bitcoin exchange-traded fund application with Coinbase declared as the surveillance-sharing partner.
• The two main stock exchanges for these funds are Nasdaq and Cboe Global Markets, and both have entered an agreement with Coinbase to cover the regulator’s surveillance requirements.
• BlackRock CEO Larry Fink has praised Bitcoin as an ‘international asset’ while Bitwage halts USDC payments for US residents citing ’strict regulations‘.
Valkyrie Refiles Spot-Bitcoin ETF Application
Valkyrie Investments has refiled its spot-Bitcoin exchange-traded fund (ETF) application, with Coinbase declared as the exchange’s surveillance-sharing partner. The two main stock exchanges that would list these funds are Nasdaq and Cboe Global Markets, which have also entered into an agreement with Coinbase in order to fulfill the SEC’s surveillance requirements.
Coinbase Surveillance Partnership
The terms of this partnership between Coinbase and the two exchanges state that they will use data from Coinbase Pro — the venue’s crypto market platform — to ensure compliance with applicable rules and regulations set by the SEC. This is meant to ensure that all involved parties are meeting their obligations in regards to investor protection and fair market practices.
Praise for Bitcoin from BlackRock CEO
BlackRock CEO Larry Fink has recently come out in support of cryptocurrencies such as Bitcoin, likening it to “digitizing gold” and praising it as an “international asset”. However, other entities have been less supportive of digital assets; Bitwage recently announced that it was halting USDC payments for US residents due to „strict regulations“.
Ethereum & NEAR Scalability Solutions
In other news related to blockchain scalability solutions, Ethereum is taking a different approach compared to NEAR Protocol in order to improve performance on their respective networks. Ethereum is focusing on sharding technology while NEAR focuses on layer 2 scaling solutions such as Optimistic Rollups.
SEC Actions & Market Share Increase
Despite recent actions taken by the SEC against certain cryptocurrency firms, Coinbase has seen its market share increase over time, particularly when compared with other major players in the space such as Binance or Kraken.