Crypto.news - BlackRock (NYSE:BLK) has submitted a new application for a bitcoin spot market ETF after the SEC identified flaws in its initial filing. If approved, this would mark the first bitcoin spot ETF to receive regulatory clearance.

In a new filing submitted through Nasdaq, the asset management firm revealed plans to address one of the main objections raised by the Securities and Exchange Commission (SEC) by finalizing a surveillance agreement with Coinbase (NASDAQ:COIN), the leading US-based crypto exchange.

The amended filing states that BlackRock’s proposed exchange-traded fund (ETF) will heavily rely on Coinbase, serving as the custodian and providing spot market data for pricing.

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