BlackRock, Nasdaq, SEC Met Regarding Bitcoin ETF
Summary
BlackRock, Nasdaq, and the SEC have held their second meeting in a month to discuss necessary rule changes for listing the Bitcoin ETF. They deliberated Nasdaq Rule 5711(d), which outlines specific guidelines for listing and trading Commodity-Based Trust Shares, intending to maintain market integrity and prevent fraudulent activities. The focus on a surveillance sharing agreement in the listing reflects the SEC's concerns over market manipulation risks in cryptocurrency trading. BlackRock has recently revised its Bitcoin ETF proposal to include cash redemptions, in an attempt to align with SEC's preferences.
