The exchange on Monday submitted new documents with the US Securities and Exchange Commission to indicate that Coinbase Global Inc. will provide market surveillance in support of the proposed ETF from the world's largest asset manager. The move came after the regulatory agency had said that initial filings by issuers were deemed to be insufficient and lacked necessary information.

A number of other companies had last week made their applications more specific as well, with Fidelity Investments, Invesco, VanEck, 21Shares and WisdomTree all amending their proposals.

Earlier: Fidelity Leads Flurry of Bitcoin ETF Refilings to Answer SEC

Crypto market surveillance may be key to gaining SEC approval for a spot Bitcoin ETF, analysts say. The surveillance could dramatically reduce fraud and market manipulation, which were top reasons the agency has rejected around 30 spot Bitcoin ETF applications to date.