NASDAQ has refiled BlackRock's application for a spot Bitcoin exchange-traded fund (ETF), and the inclusion of Coinbase as a surveillance partner has raised expectations for its approval. Here is a detailed summary of the key points discussed in the video titled "Coinbase just RELEASED the Crypto Bulls! (BlackRock Bitcoin ETF Approval)" by Merlin.

NASDAQ has taken a significant step towards gaining approval for a Bitcoin spot ETF by partnering with Coinbase, a prominent cryptocurrency exchange. The Securities and Exchange Commission (SEC) has expressed concerns about approving a Bitcoin ETF due to the lack of surveillance sharing agreements with regulated markets. To address this concern, NASDAQ and Coinbase have entered into a bilateral surveillance sharing agreement, which supplements Coinbase's existing market surveillance program.

The inclusion of Coinbase as a surveillance partner for BlackRock's Bitcoin ETF increases the likelihood of approval. The SEC may view Coinbase as a significantly sized market for Bitcoin, thereby boosting confidence in the approval process. BlackRock, a global investment management firm, is reportedly highly confident that a Bitcoin spot ETF will be approved at some point.

The approval of a Bitcoin spot ETF has the potential to attract billions of dollars in capital. Currently, there is no spot ETF for Bitcoin available in the United States. Once approved, the introduction of a Bitcoin spot ETF is expected to drive significant capital influx from investors.

In other news, Bitget, a leading spot and derivative exchange with millions of users worldwide, offers users a chance to win up to $100,000 by completing tasks on their platform. Bitget boasts a $300 million protection fund and has partnered with renowned footballer Lionel Messi.

Coinbase, however, has been facing legal challenges from the SEC. The SEC has filed a lawsuit against Coinbase, accusing the exchange of facilitating unregistered trading in 12 digital tokens classified as securities. In response, Coinbase has filed a motion to dismiss the lawsuit, arguing that the SEC's application of securities laws diverges from established legal precedence.

The ongoing lawsuit against Coinbase highlights a potential shift in the SEC's view of its own authority. Coinbase disputes the SEC's claim and argues that the application of securities laws by the regulatory agency deviates from existing legal norms.

On a positive note, Coinbase's Ethereum Layer 2 (L2) network is preparing for its mainnet launch. An external security audit found no significant flaws in the network, which was developed in collaboration with Optimism. Additionally, Bitcoin adoption continues to grow globally, as more individuals recognize its value and invest capital in the network.

In conclusion, NASDAQ's refiling of BlackRock's Bitcoin ETF application with Coinbase as a surveillance partner signals increased prospects for approval. The partnership aims to address the SEC's concerns about surveillance sharing agreements. The approval of a Bitcoin spot ETF has the potential to attract substantial capital, while Coinbase navigates its legal challenges with the SEC. Furthermore, Coinbase's Ethereum L2 network progress and the continued global adoption of Bitcoin contribute to a positive outlook for the cryptocurrency industry.