Cathie Wood’s Ark and 21Shares Reapply for Spot Bitcoin ETF

Ark Investment Management, an investment company founded by senior investors Cathy WoodAnother attempt is being made to launch spot bitcoin (bitcoin) exchange-traded funds (ETFs) in the United States.

Ark Investments submit Another filing for its physical Bitcoin ETF on May 13 is the ARK 21Shares Bitcoin ETF, according to filings with the U.S. Securities and Exchange Commission (SEC). The filing includes proposed rule changes for the Chicago Board Options Exchange (CBOE) BZX exchange.

According to Bloomberg ETF analyst Henry Jim, the latest deadline to approve or disapprove the ARK 21Shares Bitcoin ETF is January 24, 2023.

The latest filing is rejected by the SEC Apply for ARK 21Shares Bitcoin ETF in early April. Ark Invest was initially collaborative Join European ETF issuer 21Shares for a June 2021 listing of a spot Bitcoin ETF on the CBOE BZX exchange.

According to the latest filing, the investment objective of the ARK 21Shares Bitcoin ETF is to seek to track the performance of Bitcoin based on the performance of the S&P Bitcoin Index. “In order to achieve its investment objectives, the trust will hold bitcoin and will value the shares on a daily basis against the index,” the filing reads.

related: Why the world needs a US spot bitcoin ETF: 21Shares CEO explains

The potential SEC approval of a spot bitcoin ETF remains one of the most anticipated events in the community, as the SEC has not approved any of the multiple spot bitcoin ETF applications to date. According to ETF analysts, A Spot Bitcoin ETF Could Be a Reality Mid-2023.

Cryptocurrency investment giant Grayscale is one of several firms actively launching spot BTC ETFs in the United States. In late March, Grayscale CEO Michael Sonnenshein said the company was ready launch a legal battle If Grayscale’s BTC Spot ETF is rejected by the SEC.