“ARK Submits Amendment for Bitcoin ETF Approval”


ARK Invest and 21Shares have amended their 19b-4 for the ARK 21Shares Bitcoin ETF, which was refiled in April and is due a decision from the SEC in August. This filing includes a surveillance sharing agreement (SSA) with the CBOE BZX Exchange and a US-based crypto exchange provider of spot trading for Bitcoin. It is speculated that the exchange in question is Coinbase, the largest US-based crypto platform that was sued by the SEC over allegations of securities violations.

Cathie Wood, founder and CEO of ARK Invest said, “Since 2015, with increasing conviction, ARK has researched the crypto space and has invested in crypto related equities. On April 25, 2023, in partnership with 21Shares, we filed for the ARK 21Shares Bitcoin ETF and are proud to have the oldest active filing before the SEC and expect to be first in line to be considered for approval.”

Eric Balchunas, a senior ETF analyst for Bloomberg, has noted that ARK’s move adds a new twist to the spot ETF plot. He pointed to the anticipated decision on the ETF in August and the fact that BlackRock would likely want to be first to market.

The amended filing means the ARK 21Shares Bitcoin ETF now has a similar structure to that of BlackRock, and puts the ETF first in line for approval as the “oldest filing” before the regulator. BlackRock filed their spot Bitcoin ETF on June 15, including an SSA. Other asset managers have followed suit and the industry is buzzing on the prospects of an approval. Bitcoin price has reacted higher in the wake of the bullish sentiment, hitting highs above $31k.

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