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 Coinbase’s shares experienced a significant uptick of 16% on Tuesday before closing 9.87% higher, following the announcement of a key surveillance-sharing agreement with Cboe’s BZX Exchange, marking a pivotal development in the management of its spot bitcoin ETF applications. 
 On Tuesday, July 11, a notable surge was recorded in <a href="https://crypto.news/coingecko-says-sec-lawsuits-against-binance-and-coinbase-sent-crypto-prices-tumbling/" data-type="URL" data-id="https://crypto.news/coingecko-says-sec-lawsuits-against-binance-and-coinbase-sent-crypto-prices-tumbling/" rel="noopener noreferrer nofollow">Coinbase</a>‘s shares (COIN), which rocketed as much as 16% to reach a peak of $92.15. This surge in the company’s stock price is primarily attributed to a <a href="https://cdn.cboe.com/resources/regulation/rule_filings/pending/2023/SR-CboeBZX-2023-044-Amendment-No-1.pdf" data-type="URL" data-id="https://cdn.cboe.com/resources/regulation/rule_filings/pending/2023/SR-CboeBZX-2023-044-Amendment-No-1.pdf" target="_blank" rel="noopener noreferrer nofollow">landmark agreement</a> that the cryptocurrency exchange managed to secure with Cboe’s BZX Exchange. Notably, the contract focuses on surveillance-sharing related to five spot bitcoin exchange-traded fund (ETF) applications. 
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 COIN stock price | Source: investor.coinbase.com 
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 The stock was worth $89.15 — 9.87% higher — at the close of the markets today. 
 The agreement’s completion was noted on June 21, as per revisions to the initial filings presented to the U.S. SEC. In the early documents submitted, the exchange hinted at its intention to solidify a surveillance-sharing contract with Coinbase, a significant development for the digital currency industry. 
 According to the finalized contract in June this year, Coinbase consented to the surveillance-sharing agreement, referred to as “Spot BTC SSA.” In addition to the agreement, a term sheet was executed to outline the terms and conditions of the deal, signaling a significant shift in the cryptocurrency exchange landscape. 
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 Coinbase stock surges after agreement with CBOE to share surveillance data for 5 Bitcoin ETF applications. This boosts chances of ETF approval and addresses market manipulation concerns. CBOE actively seeks Bitcoin ETF launch COIN is leading BTC price. Bitcoin will pump soon <a href="https://t.co/8dvUfYb5Gt" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/8dvUfYb5Gt</a>— joshua (@MoneyJoshua_) <a href="https://twitter.com/MoneyJoshua_/status/1678798339171577856?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 11, 2023</a> 
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 Furthermore, the submitted modifications pertain to all five <a href="https://crypto.news/spot-bitcoin-etfs-deserve-approval-asserts-former-sec-chairman-jay-clayton/" data-type="URL" data-id="https://crypto.news/spot-bitcoin-etfs-deserve-approval-asserts-former-sec-chairman-jay-clayton/" rel="noopener noreferrer nofollow">ETF applications</a> by Cboe. Among those set to benefit from this agreement are prominent entities like Wise Origin, WisdomTree, VanEck, Invesco Galaxy, and ARK 21Shares. Each of these applications stands to gain from the bolstered oversight and reduced risk of manipulation that the surveillance-sharing pact brings. 
 You might also like: <a href="https://crypto.news/court-ruling-fuels-coinbases-regulatory-quest-against-sec/" rel="noopener noreferrer nofollow"> Court ruling fuels Coinbase’s regulatory quest against SEC </a> 
 Indeed, the import of surveillance-sharing agreements, often called SSAs, has skyrocketed lately, becoming an essential component of all fresh ETF applications. This emphasis stems from the SEC’s steadfast view that such collaborations are instrumental in deterring potential market manipulation and ensuring fair trading practices. 
 Additionally, <a href="https://crypto.news/crypto-spot-etfs-high-nasdaq-survey/" data-type="URL" data-id="https://crypto.news/crypto-spot-etfs-high-nasdaq-survey/" rel="noopener noreferrer nofollow">Nasdaq</a>, the securities exchange responsible for facilitating <a href="https://crypto.news/blackrock-files-new-bitcoin-etf-application-amid-secs-concerns/" data-type="URL" data-id="https://crypto.news/blackrock-files-new-bitcoin-etf-application-amid-secs-concerns/" rel="noopener noreferrer nofollow">BlackRock</a>‘s bitcoin ETF application, has also secured a similar pact with Coinbase. This arrangement, referenced in a filing dated June 29, highlights the growing trend of surveillance-sharing contracts within the cryptocurrency industry. 
 These developments underscore the industry’s evolution and increasingly stringent regulatory landscape, shaping the future of digital currency exchanges and their trading practices. 
 Read more: <a href="https://crypto.news/sec-wont-object-to-coinbases-motion-to-speed-up-case/" rel="noopener noreferrer nofollow"> SEC won’t object to Coinbase’s motion to speed up case </a> 
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Coinbase stock closes over 9% up following Cboe’s spot bitcoin ETFs partnership

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