Ark 21Shares Backers Take Another Shot at Spot Bitcoin ETF Approval

Cathie Wood’s ARK Investment Management and Switzerland-based investment-products issuer 21Shares are having another try at getting their spot BTC$96,084.05 exchange-traded fund (ETF) approved by the U.S. Securities and Exchange Commission.

• The SEC rejected an application for the ARK 21Shares Bitcoin ETF in April, citing a lack of investor protections.
• A new filing was made May 13 by Cboe BZX Exchange.
• The SEC said in a filing that it is soliciting comments with respect to the new application.
• The SEC has yet to approve any spot bitcoin ETFs. It has either rejected or delayed those requests, while allowing funds that trade bitcoin futures.
• In its filing, Cboe said it believed it “represents a regulated market of significant size” and that the proposal should be approved, according to the May 25 filing.

Read more: Valkyrie’s Bitcoin Futures ETF Gets SEC Approval, Following Teucrium Nod