Investment company ARK Investment Management is once again submitting an application to the US Securities and Exchange Commission (SEC) to launch a Bitcoin ETF.
Katherine Wood applied with an application to launch the ARK 21Shares Bitcoin ETF as early as May 13th. According to the text, the application proposes to change the rules of the Chicago Board Options Exchange (CBOE) BZX Exchange. The deadline for accepting or not accepting an application is reportedly January 24, 2023.
The new filing comes shortly after the SEC rejected the previous filing in early April. The purpose of the ARK 21Shares Bitcoin ETF is to track the performance of Bitcoin in line with the performance of the Bitcoin S&P Index, according to the new document. The trust will own the BTC and value the shares daily based on the index.
We emphasize that the decision on this application is one of the most important events in the crypto industry, since the SEC has not yet approved any of several Bitcoin spot ETFs. If approved by the ARK 21Shares regulator, the Bitcoin ETF will trade on the CBOE BZX exchange.
Earlier, management company Grayscale launched a marketing campaign urging the community to support the issuance of bitcoin futures ETFs. The company ran an ad in a Washington DC train station saying that Grayscale was encouraging all crypto investors to write in support of ETFs with the SEC.
Canada became the first country to approve the launch of an ETF for Bitcoin and Ether (ETH). In February last year, Canadian regulators approved two applications at once in a week.
Source: Bits
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