Bitcoin ETF

Bitcoin

James

The post <a href="https://coinpedia.org/news/ark-invest-leads-race-for-bitcoin-etf-approval-ahead-of-sec-deadline/">Ark Invest Leads Race for Bitcoin ETF Approval with Last Minute S-1 Amendment</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
In a thrilling move, <a href="https://coinpedia.org/news/cathie-woods-ark-invest-makes-strategic-shift-from-gbtc-to-bito/">ARK Invest</a> has surged ahead in its pursuit of a <a href="https://coinpedia.org/news/ark-invest-edges-closer-to-sec-approval-with-updated-bitcoin-etf-filing/">Bitcoin exchange-traded fund (ETF)</a> approval, just as the clock ticks down to the pivotal deadline set by the Securities and Exchange Commission (SEC) on December 29. 
In a proactive move, ARK Invest partnered with <a href="https://coinpedia.org/crypto-live-news/ark-invest-and-21-shares-launch-digital-asset-etfs/">21Shares</a> and promptly responded to the SEC’s submission request. This action followed a notable meeting on December 21, during which SEC officials met with representatives from seven firms, stressing the importance of the upcoming December 29 deadline. 
The SEC has emphasized that firms missing the S-1 amendment deadline risk not being considered in the initial phase of Bitcoin ETF approvals expected in January. 
<h3 class="wp-block-heading" id="h-ark-invest-s-strategic-amendment">ARK Invest’s Strategic Amendment</h3> 
On December 28, ARK Invest submitted a crucial amendment to the S-1 registration statement for their proposed Ark 21Shares Bitcoin ETF (ARKB). Eric Balchunas, a respected Bloomberg ETF analyst, noted that the amendment centered on authorized participants. 
Previously, on December 19, ARK Invest had updated its application to refine cash creations and redemptions for fund shares, in line with industry trends. 
With numerous firms seeking approval for a Bitcoin ETF, competition is intensifying. Bloomberg ETF analyst James Seyffart observed a lack of amended filings before December 29, suggesting strategic considerations among some firms. 
<blockquote class="wp-block-quote"> 
 “I love the fact that this saga is forcing more TradFi investors to learn about crypto and more crypto investors to learn about ETF wrapper. That is ‘The Bridge.’ Crypto isn’t going away.” <cite>Nate Geraci, President of ETF Store</cite>
</blockquote> 
Read More: <a href="https://coinpedia.org/news/what-comes-after-etf-cathie-woods-take-on-bitcoins-role-applauds-21shares/">Spot ETF Boom: Here’s Why Cathie Wood Sees Bitcoin as a Market Powerhouse</a> 
<h3 class="wp-block-heading" id="h-well-positioned-for-success">Well-Positioned for Success?</h3> 
ARK Invest’s timely actions have positioned the firm prominently in the Bitcoin ETF approval process. As the deadline approaches, competition among contenders is expected to escalate. This competitive environment highlights the increasing intersection of traditional finance and the crypto industry. 
The forthcoming Bitcoin ETF approvals in January are anticipated to foster greater collaboration and understanding between these sectors. 
This Might Interest You: <a href="https://coinpedia.org/news/bitcoin-etf-race-might-shortly-reach-your-401k-whats-secs-plan-for-29th-december/">Bitcoin ETF Race Might Shortly Reach Your 401(k), What’s SEC’s Plan for 29th December?&nbsp;</a>

Ark Invest Leads Race for Bitcoin ETF Approval with Last Minute S-1 Amendment

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