Ark Invest Files for a Physical Bitcoin ETF with the U.S. SEC

Ark Invest Files for a Physical Bitcoin ETF with the U.S. SEC

Proving to be unrelenting, Ark Invest has filed with the U.S. SEC once again for a physical Bitcoin ETF.

According to the SEC filing, an application for ARK21Shares Bitcoin ETF to be traded on the Chicago Board Options Exchange or Cboe BZX Exchange was submitted on May 25.

The first application of Ark Investment for Bitcoin ETF was rejected by the SEC just a month ago.

In its rejection, the SEC stated lack of regulation and lack of investor protection laws as its reason.

The rejection did not come as a surprise since the SEC has been pretty adamant about not approving spot ETFs, denying applications to VanEck, WisdomTree and several other firms.

Some analysts expect a spot ETF approval could come in 2022. Apart from Ark Investments many leading firms such as Grayscale have also applied for spot Bitcoin ETF applications.

Read Also: Grayscale Visited SEC for Approval of Spot-Bitcoin ETF

Countries apart from the United States have already launched spot ETFs. Just last month, 21Shares along with ETF Securities launched Bitcoin and Ethereum spot ETFs in Australia.

Even Fidelity, whose spot Bitcoin ETF application was rejected in the United States, launched a spot Bitcoin ETF in Canada in December of last year.

Previous Post
Ripple’s Rollercoaster Continues but is $0.3 Inbound? (XRP Price Analysis)
Next Post
Legendary Salvador Dalí’s Artworks to Arrive in Metaverse