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Cathie Wood’s investment firm, ARK Investment Management, is making another attempt to launch a spot Bitcoin exchange-traded fund (ETF) in the United States.
Cathie Wood’s Ark refiles for spot Bitcoin ETF
According to a filing with the US Securities and Exchange Commission, ARK Invest submitted another application for their spot Bitcoin ETF, the ARK 21Shares Bitcoin ETF, on May 13. A proposed regulation change from the Chicago Board Options Exchange (CBOE) BZX Exchange is included in the application.
The latest filing comes after the SEC rejected the ARK 21Shares Bitcoin ETF registration in early April. ARK initially collaborated with 21Shares to register for a spot Bitcoin ETF listed on the CBOE BZX Exchange in June 2021; however, most applications are postponed or rejected due to the SEC’s current attitude.
Ark 21Shares decides to try again for a "Spot" Bitcoin ETF and files 19b-4 with SEC.
Deadline for approval / disapproval: Jan 24, 2023 (latest).
Deadlines:
2022.07.13
2022.08.27
2022.11.24
2023.01.24Cboe 19b-4 filing here:https://t.co/1zoJ4NpkSp@bitcoinetf #BTC #BITCOIN https://t.co/L68RBqKmam pic.twitter.com/tfajOWozXf
— ETF Hearsay by Henry Jim (@ETFhearsay) May 26, 2022
Will the ETF launch in 2022?
ETF analysts do not believe the ETF will be launched in 2022. They believe the earliest would be mid-2023. Analysts expect this because the SEC first wants sufficient regulations for crypto exchanges. However, many firms have been attempting to speed up the process. From their perspective, the SEC is mistreating them.
Grayscale Investments is the most vocal and aggressive advocate for launching a spot Bitcoin ETF in the United States. At the beginning of March, Grayscale CEO Michael Sonnenshein announced that the business was willing to go to court if the SEC denied Grayscale’s BTC Spot ETF.
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