BlackRock’s Bitcoin ETF Application Resubmitted by Nasdaq to SEC

Coinbase will collaborate with Nasdaq by providing market surveillance for the proposed ETF.

This move comes as the digital asset space aims to regain popularity after a challenging year in 2022, which witnessed the collapse of several crypto ventures.

The SEC recently sued Coinbase for allegedly failing to register as an exchange.

However, Coinbase intends to challenge the lawsuit, arguing that the crypto assets traded on its platform do not qualify as securities and therefore should not be subject to SEC regulations.

SEC Remains Defiant

The SEC has previously rejected numerous spot bitcoin ETF applications, citing concerns about compliance with standards that safeguard against fraudulent and manipulative practices and protect the interests of investors and the public.

Nasdaq’s updated filing and collaboration with Coinbase demonstrate efforts to address regulatory concerns and meet the necessary requirements for a successful bitcoin ETF.

These developments reflect ongoing efforts to bring greater accessibility and regulatory compliance to the digital asset market.

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