"BlackRock Bitcoin ETF Refiles with Coinbase as Surveillance-Sharing Partner, Bitcoin Price Rises Amidst Approval Probability"

Nasdaq has refiled its application to list BlackRock's proposed bitcoin exchange-traded fund (ETF), naming Coinbase as the market for surveillance-sharing. This follows feedback from U.S. securities regulators that filings were "inadequate" without the name of the partner in surveillance-sharing agreements. Other pending applications, including Fidelity's, have also updated to name Coinbase. A surveillance-sharing agreement with a regulated market is required for a bitcoin trust to secure regulatory approval. Coinbase represents 56% of dollar-to-bitcoin trading on U.S.-based platforms. The SEC has rejected bitcoin ETF applications in the past, but money managers are hopeful for success this time.