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ARK Investment and 21Shares continue to file to launch Bitcoin Spot ETF

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The US SEC rejected the ARK 21Shares Bitcoin ETF application in early April and has so far not approved the Bitcoin spot ETF.

ARK Investment Management, an investment company founded by a veteran investor Cathi Wood, trying again to launch Bitcoin spot exchange-traded fund (ETF) in the United States.

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ARK Invest submitted on May 13 another application for his Bitcoin ETF, ARK 21Shares Bitcoin ETF, to the United States Securities and Exchange Commission (SEC).

This application includes a proposed rule change from the BZX Chicago Board Options Exchange (CBOE).

According to Bloomberg ETF analyst Henry Jim, the deadline for approval or disapproval of the ARK 21Shares Bitcoin ETF is 24 date of 1 year of 2023.

This new filing came shortly after the SEC rejected it ARK 21Shares Bitcoin ETF application form in early November.

According to the latest SEC filing, the investment objective of the ARK 21Shares Bitcoin ETF is to seek to track Bitcoin's performance, in line with the performance of the S&P Bitcoin Index.

“To achieve its goal, the trust will hold Bitcoin and will price the stock on a daily basis based on the index.” written records.

The SEC approval of a Bitcoin spot ETF remains one of the most anticipated events in the community as the SEC has not approved any Bitcoin ETF spot applications to date.

According to analysts, a Bitcoin Spot ETF Could Be a Reality in mid-2023.

Cryptocurrency investment giant Grayscale is among the companies that are actively launching a BTC spot ETF in the United States.

At the end of March, Grayscale CEO Michael Sonnenshein said the company was ready start a legal battle if Grayscale's BTC Spot ETF is rejected by the SEC.


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