ARK Invest Takes Lead in Bitcoin ETF Fix Race
Key Takeaways
- ARK Invest and 21Shares are leading the race, filing final amendments to their Bitcoin ETF ahead of the SEC’s December 29 deadline.
- In meetings with representatives of various companies, the SEC set deadlines and emphasized the importance of timely filings to be part of the initial wave of approvals.
- More companies are expected to file revised S-1 filings in the next 24 hours, further intensifying the race for spot Bitcoin ETF approval in January.
with Bitcoin ETFs are on the horizon, the cryptocurrency world is set to collide with traditional finance in unprecedented ways, and ARK Invest is at the forefront.
ARK Invest and 21Shares A significant move has been made in the race to launch a Bitcoin ETF. The first person to submit a final amendment that much U.S. Securities and Exchange Commission (secretary) The deadline is approaching on December 29th.
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This development comes as the SEC has been meeting with several companies and set an important deadline to consider for approval of spot Bitcoin ETFs in early January 2024.
The SEC met with representatives from various companies on December 21 to emphasize the importance of filing reports. Final S-1 amendment by December 29 It will join the initial wave of potential spot Bitcoin ETF approvals in early January. Issuers who miss this deadline risk being excluded from the first round of approval..
ARK Invest took action on December 28 by filing an amendment to the S-1 registration statement for the Ark 21Shares Bitcoin ETF. Bloomberg ETF analyst Eric Balchunas highlighted that The amendments primarily focused on approved participants..
fun, As of December 19, Ark had already fixed its application., introducing changes related to cash generation and fund share redemptions. This is consistent with other issuers making adjustments to accommodate cash generation.
James Seyffart, another Bloomberg ETF analyst, said: express His I am surprised that there are no previously redacted Bitcoin ETF filings.. Balchunas suggested that some publishers may wait until the last minute to keep revisions out of the way of competitors.
With more than a dozen companies competing for spot Bitcoin ETF approval, More amended S-1 filings are expected to be submitted in the next 24 hours.. This flurry of activity indicates growing anticipation for the launch of a spot Bitcoin ETF in January.
Nate Geraci, President of ETF Store I left a comment. Explain the situation while emphasizing the positive aspects of the ongoing story.
The next few weeks promise to be exciting times as the race for approval of the Bitcoin ETF unfolds, potentially reshaping the way cryptocurrencies are accessed and traded in the United States.
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