Cathie Wood’s Ark Invest and 21Shares Amend Bitcoin Spot ETF Application
Ark Invest has made a recent amendment to its spot Bitcoin exchange-traded fund (ETF) application in collaboration with 21Shares...
- Cathie Wood's Ark Invest and 21Shares have made an amendment to their spot Bitcoin ETF application, addressing concerns raised by the SEC.
- The amended filing focuses on custody practices, asset valuation methods, and transparency.
- The updated proposal suggests ongoing negotiations with the SEC for potential approval.
- Ark Invest becomes the first Bitcoin ETF issuer to disclose fees, with a sponsor fee of 0.80%.
- The application's final deadline is set for January 10, 2024, after previous delays.
- The SEC has rejected two previous applications for a spot Bitcoin ETF, citing non-compliance and concerns about investor protection.
- Despite the rejections, Wood's latest amendment offers hope for potential approval.
The sentiment of the article is generally positive, highlighting the potential for a Bitcoin ETF approval and addressing concerns raised by the SEC.