{"id":183825,"date":"2023-11-20T15:39:02","date_gmt":"2023-11-20T15:39:02","guid":{"rendered":"https:\/\/precoinnews.com\/?p=183825"},"modified":"2023-11-20T15:39:02","modified_gmt":"2023-11-20T15:39:02","slug":"ark-21shares-update-spot-bitcoin-etf-application-as-next-sec-deadline-looms","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ark-21shares-update-spot-bitcoin-etf-application-as-next-sec-deadline-looms\/","title":{"rendered":"ARK, 21Shares update spot Bitcoin ETF application as next SEC deadline looms"},"content":{"rendered":"<p>ARK Investment Management, a major cryptocurrency investment firm founded by Bitcoin (BTC) advocate Cathie Wood, isn\u2019t giving up on its efforts to launch a spot Bitcoin exchange-traded fund (ETF) in the United States.<\/p>\n<p>ARK Invest, on Nov. 20,\u00a0filed another amended prospectus for its spot Bitcoin ETF product developed in collaboration with the European digital asset manager 21Shares.<\/p>\n<p>Once approved, the ARK and 21Shares\u2019 Bitcoin ETF, named the ARK 21Shares Bitcoin ETF, will be trading on the BZX Exchange by the Chicago Board Options Exchange (CBOE) under the ticker symbol ARKB, the updated filing reads.<\/p>\n<p>The latest update is the third amendment to the Bitcoin ETF prospectus by ARK and 21Shares after the firms first filed for a spot Bitcoin ETF in April 2023. ARK previously amended its form S-1 registration statement for its spot Bitcoin ETF in October, which was interpreted by experts as a \u201cgood sign\u201d of progress.<\/p>\n<p>In September 2023, the SEC again delayed its expected decision on ARK\u2019s spot Bitcoin ETF application. The next deadline for the SEC\u2019s decision has been set for Jan. 11, 2024.<\/p>\n<p>According to Bloomberg ETF analyst Eric Balchunas, the latest filing includes many updates, including numerous risk disclosures designed to satisfy corporate finance requirements.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>WisdomTree amends S-1 form spot Bitcoin ETF filing as crypto awaits SEC decisions<\/em><\/strong><\/p>\n<p>\u201cOne interesting thing is they are sticking to in-kind creations redemptions \u2014 albeit in a hybrid model \u2014 to minimize tax and spread issues,\u201d Balchunas noted. \u201cSemi-shocker to be honest, but in a good way,\u201d the ETF observer added, stating:<\/p>\n<blockquote><p>\u201cThe more updates to these documents the better, shows them getting these bad boys in shape for SEC approval.\u201d<\/p><\/blockquote>\n<p>Bloomberg ETF watcher James Seyffart also suggested that the latest filing likely reflects that things are moving with the SEC conversations.<\/p>\n<p>While ARK has been actively amending its S-1 spot Bitcoin ETF application, some spot Bitcoin ETF filers haven\u2019t amended their filings yet. According to Steyfart\u2019s data as of mid-November, Franklin Templeton and Global X were the only two firms out of 12 spot Bitcoin ETF filers that haven&#8217;t amended their S-1 filings.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>How to protect your crypto in a volatile market \u2014 Bitcoin OGs and experts weigh in<\/em><\/strong><\/p>\n<p>Source: <a href=\"https:\/\/cointelegraph.com\/news\/cathie-wood-ark-spot-bitcoin-etf-amend\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ARK Investment Management, a major cryptocurrency investment<\/p>\n","protected":false},"author":3,"featured_media":183824,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ARK, 21Shares update spot Bitcoin ETF application as next SEC deadline looms - 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