ARK, 21Shares update spot Bitcoin ETF application as next SEC deadline looms


20 Nov 2023 3:03 PM

ARK Invest has filed another amended prospectus for its spot Bitcoin ETF product developed in collaboration with the European digital asset manager 21Shares. ...

  • ARK Investment Management, founded by Cathie Wood, is still pursuing the launch of a spot Bitcoin exchange-traded fund (ETF) in the US.
  • ARK Invest has filed another amended prospectus for its Bitcoin ETF in collaboration with 21Shares.
  • The ETF, named ARK 21Shares Bitcoin ETF, will trade on the BZX Exchange under the ticker symbol ARKB.
  • This is the third amendment to the prospectus since the initial filing in April 2023.
  • The SEC has delayed its decision on ARK's Bitcoin ETF application, with the next deadline set for Jan. 11, 2024.
  • The latest filing includes updates and risk disclosures to meet corporate finance requirements.
  • ARK is sticking to in-kind creations redemptions to minimize tax and spread issues.
  • Other spot Bitcoin ETF filers, such as Franklin Templeton and Global X, have not yet amended their filings.

The sentiment of the article is generally positive, as it highlights ARK Investment Management's continued efforts to launch a Bitcoin ETF and the potential progress indicated by the latest filing.

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