SEC flooded with 12 Ethereum ETF applications in less than a week
Market observers have argued that the asset management firms are gambling on their applications.
Follow crypto ETF news, approvals, inflows, issuers, and market reactions across spot Bitcoin, Ethereum, and digital asset funds.
This week, Ark Invest funds sold more than double the amount of Coinbase shares they bought in June when the SEC sued the exchange.
Demand for Bitcoin ETFs is currently high as several financial institutions have applied for a spot Bitcoin ETFs in the U.S.
Sufficient surveillance sharing agreements could convince the SEC to approve a spot Bitcoin ETF, according to the agency's former chair.
GBTC shares have outperformed Bitcoin over the past month.
Changpeng Zhao's comments concern BlackRock, Fidelity, and other financial giants as they race to enter the Bitcoin spot ETF market.
The move mirrors the other applications filed by Cboe Global Markets on behalf of global asset manager Fidelity and ARK Investments, which also chose to list Coinbase as their SSA partner.