ARK Investment Management: Never Gonna Give up on Bitcoin ETF

ARK and 21Shares Partner to Update Bitcoin Spot ETF Application Ahead of Upcoming SEC Deadline

ARK and 21Shares are making updates to their spot Bitcoin ETF application as the next SEC deadline approaches.

Well, well, well, guess who’s not giving up on their dream of launching a Bitcoin ETF? That’s right, it’s our favorite crypto investment firm, ARK Investment Management! Founded by the legendary advocate of Bitcoin, Cathie Wood, this firm is relentless when it comes to bringing Bitcoin to the masses.

In a recent twist of events, ARK Invest filed yet another amended prospectus for their spot Bitcoin ETF product. And who are they partnering up with? None other than the European digital asset manager, 21Shares. These two powerhouses are teaming up to create the ARK 21Shares Bitcoin ETF. It’s like a dynamic duo fighting against the forces that deny crypto enthusiasts their chance to bask in the glory of a Bitcoin ETF.

But wait, there’s more! If everything goes according to plan and ARK Investment Management gets their approval, the ARK 21Shares Bitcoin ETF will be traded on the BZX Exchange by the Chicago Board Options Exchange (CBOE). Imagine, a Bitcoin ETF with the ticker symbol ARKB, ready to conquer the financial world like a superhero with a cape made of blockchain technology.

Now, this isn’t ARK’s first rodeo. They previously filed for a spot Bitcoin ETF back in April 2023. And since then, they’ve been working tirelessly to make their dreams a reality. They even amended their form S-1 registration statement in October, which experts saw as a “good sign” of progress. Talk about determination!

• Osaka Digital Exchange (ODX) to Launch Japan’s First Digital Securities Trading
• The Middle East’s first cryptocurrency IPO is landed A quick look at 5 major regulatory details of UAE virtual assets compared
• Stablecoins: Are They Really Stable?

But just like a rollercoaster ride, this journey hasn’t been all smooth sailing. The SEC, being the party pooper that they sometimes are, decided to delay their decision on ARK’s spot Bitcoin ETF application. Not once, but twice! So, what’s the new deadline? January 11, 2024. Mark your calendars, folks! It’s like waiting for Christmas morning, except the presents are Bitcoin ETF approvals instead of socks and sweaters.

Despite these hurdles, ARK Investment Management doesn’t back down. They keep on pushing, amending, and filing. Their latest prospectus update includes various risk disclosures, because hey, when it comes to investing in cryptocurrencies, you gotta be aware of all the potential swings and bumps along the way. But it’s all worth it if it helps them get those “bad boys” in shape for SEC approval, as Bloomberg ETF analyst Eric Balchunas puts it. Those bad boys better be ready for their moment in the spotlight!

Speaking of SEC conversations, James Seyffart, another keen observer of the ETF scene, suggests that the latest filing from ARK is a positive sign. It indicates that these conversations are moving forward, like a crypto-moonshot that’s just waiting to blast off.

Now, ARK might be leading the charge, but they’re not alone in this Bitcoin ETF race. Some other filers haven’t amended their filings yet. According to the data, Franklin Templeton and Global X, among the twelve firms in the mix, are the only ones snoozing on the amendment front. Come on, guys, let’s keep up with the ARKs of the world and show some ETF enthusiasm!

So, dear readers, keep an eye on the calendar, stay tuned for updates, and join in this exhilarating journey towards a Bitcoin ETF. It’s not just about the financial gains, but about the revolution that blockchain technology is bringing to the world. Let’s cheer on ARK Investment Management and their partners as they strive to make this dream a reality. Together, we can amplify the power of crypto and create a future that’s as bright as the glow of a thousand Bitcoin moons.

Oh, and if you haven’t yet protected your crypto in this volatile market, check out our article here. Who knows, you might find some valuable insights from Bitcoin OGs and experts. Happy investing, folks, and here’s to a future filled with Bitcoin ETFs and moon-bound dreams!

We will continue to update Blocking; if you have any questions or suggestions, please contact us!