Cathie Woods ARK Says She and Others Will Receive Bitcoin (BTC) ETF Approval Before BlackRock: Report
ARK Invest says they and others ahead of BlackRock are awaiting SEC (Securities and Exchange Commission) approval of a Bitcoin (BTC) exchange-traded fund (ETF).
In a new report from Bloomberg, Yassine Elmandjra, an analyst at ARK Investment Management, says ARK is “first place” for a BTC ETF.
“ARK and 21Shares have filed a filing with the SEC for a Bitcoin ETF, now the only one ahead of BlackRock.”
According to the ARK representative, ARK Investment Management and 21Shares are currently the top contenders for potential spot Bitcoin ETF approval. Her next SEC decision date is scheduled for August 13, 2023.
According to ARK analysts, BlackRock’s bid for a Bitcoin ETF spot is characterized by its unique exchange monitoring sharing agreement. However, other applicants may also update their filings with similar agreements.
James Seyffart, ETF Analyst at Bloomberg Intelligence says:
“21Shares, ARK and Cboe are first as their next SEC decision date is 8/13/23 and we don’t yet have a date for the other 19b-4 filings like BlackRock’s.
I assume Cboe would like to update their proposal to amend the 19b-4 rules to add a monitoring sharing agreement with Coinbase if they believe this could be a route to ETF approval.”
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