2 years ago
Swiss-based fintech institution 21Shares confimed a Bloomberg study that it has partnered with Cathie Wood-founded ARK Investment Management to refile for a spot-Bitcoin exchange-trade money (ETF).
Despite 2 erstwhile filing rejections, 21Shares told CryptoSlate:
“It whitethorn beryllium a protracted effort but we judge persistence volition yet wage disconnected and the winners volition beryllium American investors.”
The concern is filing for the ARK 21Shares Bitcoin ETF — acceptable to commercialized nether the ticker ARKB, according to Bloomberg’s report. The Bitcoin ETF would way Bitcoin’s terms arsenic measured by the S&P Bitcoin Index.
Three strikes, and you’re out!
The U.S. Securities and Exchange Commission (SEC) has antecedently rejected 2 filings for the 21Shares and ARK spot-Bitcoin ETF.
21Shares archetypal filed for the Bitcoin ETF successful 2021 and, astir recently, successful May 2022.
When approached for remark by CryptoSlate, 21Shares said:
“Although filings for this money person doubly been rejected by the SEC, 21Shares powerfully believes that US investors should person entree to safe, regulated concern products that supply vulnerability to halfway crypto assets arsenic bash investors successful Canada, Switzerland, the European Union and different jurisdictions.”
The SEC has not approved a azygous spot Bitcoin ETF but has approved Bitcoin futures ETFs since October 2021.
“We stay committed to expanding entree to the crypto plus people by entering markets that beforehand responsible, clear, and tenable regularisation – this is the aforesaid attack we person taken since 2018 successful Europe and different markets.”
Cathie Wood and 21Shares
The Founder and CEO of ARK Invest, Cathie Wood, precocious said that she believed the Bitcoin and Ethereum terms rebound resulted from the networks’ auditable, transparent, and decentralized nature.
Wood said that banks opposition this quality and “have go little so” arsenic regulators poised investors to absorption connected the “threat crypto poses to users.”
Meanwhile, 21Shares launched an exchange-traded merchandise (ETP) offering vulnerability to the Bitcoin layer2 network, Stacks (STX).
The manager of ETP merchandise astatine 21Shares, Arthur Krause, said the caller Stacks ETP provides investors with “a unsocial opportunity[…] arsenic determination are presently nary different concern products providing vulnerability to Stacks connected the market.”
The station 21Shares, Cathie Wood’s ARK Investment judge ‘Persistence volition wage off’ successful 3rd filing for spot Bitcoin ETF appeared archetypal connected CryptoSlate.
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