Bitcoin ETF Race: Ark Amends SEC Filing to Match BlackRock - Decrypt
The SEC has been adamant that no applicant has proven that they can adequately protect investors against manipulative practices....
- ARK Invest has amended its SEC filing for a Bitcoin exchange-traded fund (ETF) to include a surveillance-sharing agreement.
- The agreement, called "Spot BTC SSA," involves ARK, the Chicago Board Options Exchange (CBOE), and a cryptocurrency platform.
- The purpose of the surveillance-sharing agreement is to prevent market manipulation by sharing information with regulators.
- BlackRock, another company vying for a Bitcoin ETF, included a similar agreement in its filing last week.
- ARK's revised filing could potentially help them secure approval before BlackRock, as ARK submitted their proposal earlier.
- ARK's previous Bitcoin ETF application was rejected by the SEC due to concerns about market manipulation.
- The SEC recently approved the first leveraged Bitcoin futures ETF, called BITX, which had a successful launch.
The sentiment of the article is generally positive, as it highlights ARK Invest's efforts to secure approval for a Bitcoin ETF and the potential significance of their surveillance-sharing agreement.