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<p class="is-style-lead">Cathie Wood’s ARK Investment Management is speculated to be leading the competition for a bitcoin (BTC) exchange-traded fund (ETF), ahead of investment giant BlackRock, according to recent industry reports.</p> 
<p>Renowned <a href="https://crypto.news/price/bitcoin/">bitcoin</a>-supportive company, ARK Investment Management, helmed by the seasoned investor <a href="https://crypto.news/cathie-wood-boosts-coinbase-holdings-amid-escalating-sec-crackdown/" data-type="URL" data-id="https://crypto.news/cathie-wood-boosts-coinbase-holdings-amid-escalating-sec-crackdown/" target="_blank" rel="noreferrer noopener">Cathie Wood</a>, is purportedly leading the race for a bitcoin (BTC) exchange-traded fund (ETF), as per recent information.</p> 
<p>The established investment corporation, <a href="https://crypto.news/blackrock-nears-bitcoin-etf-filing-partnering-with-coinbase-custody/" data-type="post" data-id="14169766" target="_blank" rel="noreferrer noopener">BlackRock</a>, initiated an application for a BTC ETF in the middle of June, instigating an air of expectancy across the cryptocurrency domain. </p> 
<p>Despite conjecture that BlackRock could emerge as the inaugural issuer of a BTC ETF in the U.S. subject to authorization, a number of industry insiders and specialists question this prospect.</p> 
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   <p lang="en" dir="ltr">JUST IN: Cathie Wood’s ARK Invest says it’s first in line to get potential approval for a spot <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> ETF, ahead of BlackRock – Bloomberg <a href="https://t.co/zjneCeo6bB" target="_blank">pic.twitter.com/zjneCeo6bB</a></p>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1673417063375728658?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 26, 2023</a>
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<p>ARK analyst Yassine Elmandjra <a href="https://www.afr.com/markets/currencies/cathie-wood-s-ark-says-it-s-first-in-line-for-spot-bitcoin-etf-20230627-p5djo5" data-type="URL" data-id="https://www.afr.com/markets/currencies/cathie-wood-s-ark-says-it-s-first-in-line-for-spot-bitcoin-etf-20230627-p5djo5" target="_blank" rel="noreferrer noopener">conveyed</a> that alternative contenders can adapt their filings in alignment with BlackRock’s, negating any perceived advantage. </p> 
<p>Elmandjra highlighted that ARK, in conjunction with European asset manager 21Shares, had approached the U.S. Securities and Exchange Commission (SEC) with a BTC ETF <a href="https://crypto.news/ark-investment-and-21shares-revive-spot-bitcoin-etf-application/" data-type="URL" data-id="https://crypto.news/ark-investment-and-21shares-revive-spot-bitcoin-etf-application/" target="_blank" rel="noreferrer noopener">application in April</a>, now situating them ahead of BlackRock in the queue.</p> 
<p>James Seyffart, an ETF analyst from Bloomberg Intelligence, shared this viewpoint, indicating that ARK and 21Shares are likely frontrunners for the bitcoin ETF spot.</p> 
<p> You might also like: <a href="https://crypto.news/blackrock-nears-bitcoin-etf-filing-partnering-with-coinbase-custody/"> BlackRock nears bitcoin ETF filing, partnering with Coinbase custody </a> </p> 
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   <p lang="en" dir="ltr">JUST IN: ARK has amended their 19b-4 for spot bitcoin ETF to include a surveillance sharing agreement bt CBOE and a crypto exchange (likely Coinbase), which makes their's like BlackRock's filing now, and puts them in pole position to be approved first bc they filed first. <a href="https://t.co/P8PCmPdhln" target="_blank">pic.twitter.com/P8PCmPdhln</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1674055780058771463?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 28, 2023</a>
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<p>21Shares, ARK, and the Chicago Board Options Exchange (CBOE) stand to benefit from an earlier SEC decision date on Aug. 13, 2023, which precedes other yet-to-be-scheduled decision dates for the 19b-4 applications, including BlackRock’s, Seyffart noted.</p> 
<p>The iShares Bitcoin Trust application by BlackRock <a href="https://crypto.news/invesco-submits-new-spot-bitcoin-etf-application/" target="_blank" data-type="URL" data-id="https://crypto.news/invesco-submits-new-spot-bitcoin-etf-application/" rel="noreferrer noopener">ignited a resurgence</a> of Bitcoin ETF filings. Several entities like crypto fund manager Valkyrie, WisdomTree, and Invesco have followed suit with renewed BTC ETF filings, while Bitwise is also said to be re-attempting a BTC ETF.</p> 
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<p>Interestingly, BlackRock’s timing for the BTC ETF filing has sparked curiosity among market observers, with suggestions that the firm may possess exclusive knowledge concerning the <a href="https://crypto.news/why-is-the-sec-skeptical-on-approving-bitcoin-etfs/" data-type="URL" data-id="https://crypto.news/why-is-the-sec-skeptical-on-approving-bitcoin-etfs/" target="_blank" rel="noreferrer noopener">SEC’s stance</a> on bitcoin ETFs.</p> 
<p>While there is increasing hope surrounding the introduction of a spot <a href="https://crypto.news/price/bitcoin/" target="_blank" data-type="URL" data-id="https://crypto.news/price/bitcoin/" rel="noreferrer noopener">bitcoin</a> ETF in the U.S. market, numerous specialists contend that these offerings may not be imminent.</p> 
<p> Read more: <a href="https://crypto.news/ark-investment-bitcoin-exchange-traded-fund-etf/"> ARK Investment Submits Bitcoin Exchange-Traded Fund (ETF) Proposal </a> </p>

Cathie Wood’s ARK reportedly ahead in race for BTC ETF

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