Cathie Wood’s Ark Invest and 21Shares Amend Bitcoin Spot ETF Application
Crypto News
20 Nov 2023 8:30 PM
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.
You May Ask
What amendments have been made to the spot Bitcoin ETF application by Cathie Wood's Ark Invest and 21Shares?What were the concerns raised by the SEC regarding the previous applications?What is the sponsor fee disclosed by Ark Invest for the Bitcoin ETF?When is the final deadline for the application, and what were the previous delays?What is the potential significance of Wood's latest amendment for the approval of a Bitcoin ETF?