1 year ago
The latest update is the 3rd amendment to the Bitcoin ETF prospectus by ARK and 21Shares aft the firms archetypal filed for a spot Bitcoin ETF successful April 2023.
ARK Investment Management, a large cryptocurrency concern steadfast founded by Bitcoin (BTC) advocator Cathie Wood, isn’t giving up connected its efforts to motorboat a spot Bitcoin exchange-traded money (ETF) successful the United States.
ARK Invest, connected Nov. 20, filed different amended prospectus for its spot Bitcoin ETF merchandise developed successful collaboration with the European integer plus manager 21Shares.
Once approved, the ARK and 21Shares’ Bitcoin ETF, named the ARK 21Shares Bitcoin ETF, volition beryllium trading connected the BZX Exchange by the Chicago Board Options Exchange (CBOE) nether the ticker awesome ARKB, the updated filing reads.
The latest update is the 3rd amendment to the Bitcoin ETF prospectus by ARK and 21Shares aft the firms archetypal filed for a spot Bitcoin ETF successful April 2023. ARK antecedently amended its signifier S-1 registration statement for its spot Bitcoin ETF successful October, which was interpreted by experts arsenic a “good sign” of progress.
In September 2023, the SEC again delayed its expected decision connected ARK’s spot Bitcoin ETF application. The adjacent deadline for the SEC’s determination has been acceptable for Jan. 11, 2024.
According to Bloomberg ETF expert Eric Balchunas, the latest filing includes galore updates, including galore hazard disclosures designed to fulfill firm concern requirements.
Related: WisdomTree amends S-1 signifier spot Bitcoin ETF filing arsenic crypto awaits SEC decisions
“One absorbing happening is they are sticking to in-kind creations redemptions — albeit successful a hybrid exemplary — to minimize taxation and dispersed issues,” Balchunas noted. “Semi-shocker to beryllium honest, but successful a bully way,” the ETF perceiver added, stating:
“The much updates to these documents the better, shows them getting these atrocious boys successful signifier for SEC approval.”Bloomberg ETF watcher James Seyffart besides suggested that the latest filing apt reflects that things are moving with the SEC conversations.
While ARK has been actively amending its S-1 spot Bitcoin ETF application, immoderate spot Bitcoin ETF filers haven’t amended their filings yet. According to Steyfart’s information arsenic of mid-November, Franklin Templeton and Global X were the lone 2 firms retired of 12 spot Bitcoin ETF filers that haven't amended their S-1 filings.
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