United

Bitcoin ETF

Bitcoin

James

ARK Investment Management, led by Bitcoin advocate Cathie Wood, is undeterred in its efforts to introduce a spot Bitcoin exchange-traded fund (ETF) in the United States. The firm recently filed its third amended application for the proposed ARK 21Shares Bitcoin ETF in a pursuit of regulatory approval. ARK Investment developed this Bitcoin ETF in Collaboration with European digital asset Manager 21Shares Capitali 
If given the thumbs up, the ETF is will trade on the Chicago Board Options Exchange’s BZX Exchange under the symbol ARKB. The latest filing on November 20 marks the third amendment to the proposal since the initial filing back in April 2023.
Notably, ARK’s October amendment was viewed positively by experts. It signalled progress in the intricate journey toward regulatory approval. ETF application setback 
ARK has had a setback in September 2023, when the SEC delayed its decision. However, optimism surrounds the recent filing.
The deadline for the SEC’s verdict on ARK’s application is now set for January 11, 2024. Bloomberg ETF analyst Eric Balchunas highlighted the risk disclosures aimed at meeting corporate finance requirements.
Of particular interest is ARK’s commitment to in-kind creations and redemptions. They have employed a hybrid model to mitigate tax and spread concerns.
The more updates to these documents, the better, showing them getting these bad boys in shape for SEC approval Bloomberg ETF analyst Eric Balchunas on X. 
Fellow Bloomberg ETF watcher James Seyffart also suggested that the latest filing indicated progress in ongoing conversations with the SEC.
Okay, we're nearing in on deadline dates for 3 spot
<a href="https://news.todayq.com/vaneck-files-amended-application-with-bitcoin-seeding/" rel="noopener noreferrer nofollow">Amendments</a> signal determination, and it’s worth noting that not all spot Bitcoin ETF applications are known the same path. As of mid-November, <a href="https://news.todayq.com/asset-manager-franklin-templeton-files-the-latest-spot-bitcoin-etf-application/" rel="noopener noreferrer nofollow">Franklin Templeton</a> and Global X stand out as the only two out of 12 firms yet to <a href="https://news.todayq.com/wisdomtree-revise-form-s-1-for-spot-bitcoin-etf-will-btc-move-upward/" rel="noopener noreferrer nofollow">amend their S-1 filings</a>.
Industry insiders must be closely monitoring the developments. Investors and enthusiasts alike await the <a href="https://news.todayq.com/cathie-woods-ark-invest-bullish-on-bitcoin-amid-potential-bitcoin-etf-approval/" rel="noopener noreferrer nofollow">SEC’s decision</a>. Everybody is slowly recognizing the significance of the intersection of traditional finance and the crypto market.
© Todayq News

ARK Invest’s updated spot-Bitcoin ETF signals optimism

Todayq News

Other articles published on Nov 20, 2023

Philippines Makes Historic Move With $270 Mln Maiden Tokenized Bond Sale

OpenAI CEO drama provides markets for blockchain bets

Conflux Price Prediction: Correction Over; Time for Reversal?

Avalanche (AVAX) Gains 10%, But What Is Driving Momentum?

Solana and Avalanche follow Ethereum's lead, reap these benefits

US Demands Bitcoin Exchange Binance to Pay Fine: Here Are All the Details!

Join our free newsletter for daily crypto updates!