ARK First Spot Bitcoin ETF?

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ARK Investment Management has made amendments to its spot Bitcoin ETF application with the United States Securities and Exchange Commission (SEC), aligning it with BlackRock’s recent filing. The updated application includes a surveillance sharing agreement with the Chicago Mercantile Exchange (CME) futures markets and a cryptocurrency exchange, most likely Coinbase according to Bloomberg ETF analyst Eric Balchunas.

ETF Newz Says:

With these amendments, ARK’s filing update positions it ahead of its competitors in the race to launch the first Bitcoin ETF in the United States. This signals ARK’s intent to gain an advantage in securing regulatory approval and bringing a spot Bitcoin ETF to the market. However, it’s important to note that the approval of a Bitcoin ETF still depends on the evaluation and decision-making process of the SEC, and there is no guarantee of approval.

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There is a growing belief that the recent price surge in bitcoin could already factor in the potential approval of a spot Bitcoin ETF- a pivotal strategic investment move that holds significant influence in the crypto market. Investors and financial enthusiasts alike are keenly awaiting regulatory approval, a decision that could potentially catalyze the future growth trajectory of bitcoin prices. This speculation underscores not only the potential value that bitcoin holds as a digital asset but also the evolving role of institutional reactiveness in the cryptocurrency landscape.

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