The discussion revolved around Nasdaq’s proposed rule change to list and trade a spot Bitcoin ETF under Nasdaq Rule 5711(d).
BlackRock, Nasdaq and the United States Securities and Exchange Commission (SEC) met for the second time in December to discuss its application for a spot Bitcoin (BTC) exchange-traded fund (ETF).
According to an SEC memo, representatives from the three organizations discussed the necessary rule changes required to list the spot Bitcoin ETF. The SEC wrote:
The Nasdaq Rule 5711(d) discussed during the meeting provides the requirements for the initial and continued listing of commodity-based trust shares on the Nasdaq. The rule establishes regulatory guidelines and specific criteria for listing, including compliance measures and surveillance mechanisms designed to ensure market integrity and protect users against fraud.
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Source: https://cointelegraph.com/news/bitcoin-etf-blackrock-sec-nasdaq-listing-rules