The SEC has denied Ark 21Shares filing to create a spot bitcoin ETF stating there was a lack of investor protection. This is not surprising as the SEC have been rejecting and delaying filings for multiple spot bitcoin ETFs.
ETF Newz Says: Ark Investment Management and the firm 21Shares had teamed up to launch the product last July. The initial application was delayed multiple times. The SEC chair Gary Gensler has stated his preference towards bitcoin futures ETFs.