Cathie Wood’s Ark Amends Bitcoin Spot ETF Application To Copy BlackRock
ARK’s modification may make it the first to launch a Bitcoin spot ETF in the United States, beating BlackRock....
- ARK Invest has modified its Bitcoin Spot ETF filing to include a new surveillance sharing agreement, potentially making it the first to launch a Bitcoin spot ETF in the United States.
- The modification aims to address the U.S. Securities and Exchange Commission's concerns and increase the chances of approval.
- The proposal suggests that the Cboe BZX Exchange will enter a surveillance sharing agreement with a United States-based spot trading platform for Bitcoin.
- The previous rejection of ARK's ETF application was due to the inability to form a sufficient surveillance-sharing agreement related to Bitcoin spot trading.
- BlackRock's filing included a similar passage about its respective stock exchange, Nasdaq, entering a surveillance sharing agreement with a spot Bitcoin exchange.
- Analysts suggest that ARK's filing puts them in a position to be approved before BlackRock.
The sentiment of the article is generally positive, as it discusses ARK Invest's modification to increase the chances of launching a Bitcoin spot ETF and potentially beating BlackRock.