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Investment company ARK Investment Management is again filing an application with the US Securities and Exchange Commission (SEC) to launch an ETF for bitcoin.
Catherine Wood (Cathie Wood) applied for the launch of the ARK 21Shares Bitcoin ETF on May 13. According to the text, the application proposes to change the rules of the Chicago Stock Exchange of Options (CBOE) BZX Exchange. It is reported that the deadline for accepting or not accepting the application is January 24, 2023.
The new application came shortly after the SEC rejected a previous one filed in early April. According to the new document, 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. The Trust will own BTC and value the shares daily based on the index.
The decision on this application is one of the most important developments in the crypto industry, as the SEC has yet to approve any of the several spot ETFs on Bitcoin. If approved by the regulator ARK 21Shares Bitcoin ETF will be traded on the CBOE BZX exchange.
Earlier, the management company Grayscale launched a marketing campaign, urging the community to support the release of futures ETFs for bitcoin. The company placed an ad in washington, D.C., which said that Grayscale encourages all crypto investors to write in support of ETFs to the SEC.
Canada was the first country to approve the launch of an ETF for bitcoin and ether (ETH). In February last year, Canadian regulators approved two applications in a week.
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