Cathie Wood’s Ark and 21Shares refile for spot Bitcoin ETF

ARK Investment Management, an concern steadfast founded by seasoned capitalist Cathie Wood, is taking different effort to motorboat a spot Bitcoin (BTC) exchange-traded money (ETF) successful the United States.

ARK Invest submitted connected May 13 yet different exertion for its carnal Bitcoin ETF, the ARK 21Shares Bitcoin ETF, according to a filing with the U.S. Securities and Exchange Commission. The exertion includes a projected regularisation alteration from the Chicago Board Options Exchange (CBOE) BZX Exchange.

According to Bloomberg ETF expert Henry Jim, the latest deadline for support oregon disapproval of the ARK 21Shares Bitcoin ETF is January 24, 2023.

— ETF Hearsay by Henry Jim (@ETFhearsay) May 26, 2022

The latest filing comes soon aft the SEC rejected the exertion for the ARK 21Shares Bitcoin ETF successful aboriginal April. Ark Invest initially partnered with the European ETF issuer 21Shares to record for a spot Bitcoin ETF listed connected CBOE BZX Exchange successful June 2021.

According to the latest filing, the concern nonsubjective of the ARK 21Shares Bitcoin ETF is to question to way the show of Bitcoin, successful accordance with the show of the S&P Bitcoin Index. “In seeking to execute its concern objective, the spot volition clasp Bitcoin and volition worth the shares regular based connected the index,” the exertion reads.

Related: Why the satellite needs a spot Bitcoin ETF successful the US: 21Shares CEO explains

A imaginable support of a spot Bitcoin ETF by the SEC remains 1 of the astir anticipated events successful the assemblage arsenic the SEC has not approved immoderate of aggregate spot Bitcoin ETF applications truthful far. According to ETF analysts, a spot Bitcoin ETF could go real successful mid-2023.

Cryptocurrency concern elephantine Grayscale is among respective companies that person been moving aggressively to motorboat a spot BTC ETF successful the United States. In precocious March, Grayscale CEO Michael Sonnenshein said the steadfast was acceptable to initiate a ineligible fight if Grayscale’s BTC Spot ETF is denied by the SEC.