I think that The asset management giant included a surveillance-sharing agreement in its proposal, which could eliminate the risk of market manipulation related to Bitcoin.
Blackrock's (BLK) iShares Bitcoin Trust application to the U.S. Securities and Exchange Commission (SEC) this week has a higher likelihood of success than other fund managers' previous attempts. This improved chance is attributed to introduction of a "surveillance-sharing agreement" between exchanges.
In the 19b-4 filing on page 36 of Nasdaq, where the proposed ETF is intended to be listed, it is mentioned that Nasdaq will play a role in combating market manipulation by establishing a surveillance-sharing agreement with a Bitcoin (BTC) spot trading platform operator. Such agreements enable the exchange of information regarding market trading activity, clearing activity, and customer identification, thereby minimizing the potential for market manipulation.
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