Title: ARK Amends Its 19b-4 for a Spot Bitcoin ETF Filing
ARK Invest and 21Shares have made amendments to their 19b-4 filing for the ARK 21Shares Bitcoin ETF. The amended filing includes a surveillance sharing agreement (SSA) with the CBOE BZX Exchange and a US-based crypto exchange. Cathie Wood, founder and CEO of ARK Invest, believes that this amended filing puts the ARK 21Shares Bitcoin ETF in a favorable position for approval as the “oldest filing” before the Securities and Exchange Commission (SEC).
The Amended Filing and Surveillance Sharing Agreement
The amended 19b-4 filing by ARK Invest and 21Shares signifies that they have established a surveillance sharing agreement with the CBOE BZX Exchange and a US-based crypto exchange provider of spot trading for Bitcoin. Although the identity of the crypto exchange provider is not explicitly mentioned, speculation suggests it could be Coinbase, the largest US-based crypto platform.
ARK’s “Oldest Filing”
The amended filing positions the ARK 21Shares Bitcoin ETF similarly to BlackRock’s spot Bitcoin ETF, making it the “oldest filing” before the SEC. Cathie Wood emphasized that since 2015, ARK has been researching the crypto space and investing in crypto-related equities. By partnering with 21Shares and refiling for the ARK 21Shares Bitcoin ETF, ARK Invest expects to be first in line for approval.
Industry Buzz and Implications
Eric Balchunas, a senior ETF analyst for Bloomberg, highlights that ARK’s move adds a new twist to the spot ETF plot. He believes that BlackRock, as a major player in the ETF market, would want to be the first to launch a spot Bitcoin ETF. The anticipated decision on the ETF in August and the ongoing Grayscale lawsuit against the SEC contribute to the industry buzz around Bitcoin ETF approval.
The Impact on Bitcoin Price
The prospects of an approved spot Bitcoin ETF have generated bullish sentiment in the industry. The price of Bitcoin has responded positively, reaching highs above $31k. Investors and crypto enthusiasts are closely monitoring the developments surrounding ETF filings and their potential impact on the market.
ARK Invest’s amended 19b-4 filing for the ARK 21Shares Bitcoin ETF, including a surveillance sharing agreement with the CBOE BZX Exchange and a US-based crypto exchange, positions it as the “oldest filing” before the SEC. This amended filing puts the ARK 21Shares Bitcoin ETF in a favorable position for approval, along with the ongoing competition from other asset managers, such as BlackRock. The industry eagerly awaits the SEC’s decision on spot Bitcoin ETFs, which could have a significant impact on Bitcoin’s price and overall market sentiment.