Bitcoin ETF

Bitcoin

James

Experts say Cathie Wood’s company is the first issuer to publicly disclose basis points (bps) fees for its Bitcoin ETF, signaling constructive talks with the U.S. Securities and Exchange Commission (SEC).
ARK Invest and 21Shares filed an update to their joint form S-1 application with the SEC for a spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) ETF amid industry-wide anticipation that America’s premier securities watchdog would approve such products in the coming weeks or months.
The amended ARK 21Shares Bitcoin ETF under the ticker ARKB included the fund’s bps fee stated as 80 bps, the first issuer to do so, according to Bloomberg’s Eric Balchunas. “Honestly a bit higher than I expected,” said ETF expert <a href="https://twitter.com/JSeyff/status/1726596416435540362" target="_blank" rel="noopener noreferrer nofollow">James Seyffart</a> on X, speaking about the expected expense ratios for the basket of spot BTC ETFs in SEC review at press time.
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 There’s a bunch of updates in here. Lot of new risk disclosures (which is to satisfy Corp Fin no doubt). One interesting thing is they sticking to in kind creations redemptions (albeit in a hybrid model) to minimize tax and spread issues.— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1726594427479826669?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 20, 2023</a>
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Other issues like <a href="https://crypto.news/wisdomtree-makes-an-amendment-to-spot-bitcoin-etf-application/" rel="noopener noreferrer nofollow">WisdomTree</a> have also submitted amendments to their bids while the SEC delayed its decision on a handful of applications including <a href="https://crypto.news/sec-delays-decision-on-franklin-globex-bitcoin-etf/" rel="noopener noreferrer nofollow">Franklin Templeton</a> and <a href="https://crypto.news/sec-postpones-hashdexs-spot-bitcoin-etf-application/" rel="noopener noreferrer nofollow">Hashdex</a>.
You might also like: <a href="https://crypto.news/bitgo-ceo-expects-additional-round-of-bitcoin-etf-rejections/" rel="noopener noreferrer nofollow"> BitGo CEO expects additional round of Bitcoin ETF rejections </a>
ETF experts predict a 90% chance that the SEC will approve spot Bitcoin ETF by January 2024, despite the commission’s history of rejections for crypto-related ETFs tied to spot prices.
The SEC, however, has approved several futures ETFs pegged to the same underlying assets, which spurred a long-standing debate by crypto proponents regarding the regulator’s review process.&nbsp;
Issuers like BlackRock have moved to defy the odds, filing for both spot Bitcoin and <a href="https://crypto.news/blackrock-applies-for-spot-ethereum-etf/" rel="noopener noreferrer nofollow">spot Ethereum ETFs</a> as the SEC engaged firms over their respective filings following a judicial <a href="https://crypto.news/grayscale-makes-new-attempt-for-spot-bitcoin-etf-approval/" rel="noopener noreferrer nofollow">defeat</a> against Grayscale.
Read more: <a href="https://crypto.news/bloomberg-analysts-estimate-spot-bitcoin-etf-market-to-hit-100b/" rel="noopener noreferrer nofollow"> Bloomberg analysts estimate spot Bitcoin ETF market to hit $100b </a>

ARK Invest discloses 80 bps fee in spot Bitcoin ETF filing

crypto.news

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