ARK's amended spot Bitcoin ETF filing is a ‘good sign’ of future approval
ARK Invest and 21Shares amended spot Bitcoin ETF filing seemingly addresses earlier concerns highlighted by the SEC, which is a good sign of progress, according to Bloomberg's ETF analysts. A recent amendment to ARK Invest and 21Shares’ joint spot Bitcoin (BTC) exchange-traded fund (ETF) application could be seen as a “good sign” of progress and impending approval s. An amended Oct. 11 filing to the Securities and Exchange Commission for approval adds additional information about the proposed spot Bitcoin ETF, including practices for how the fund will custody assets and determine asset values. Bloomberg senior ETF analyst Eric Balchunas said the changes could be in direct response to concerns the SEC has asked ETF issuers to address. “It means ARK got the SEC's comments and has dealt with them all, and now put [the] ball back in [the] SEC's court,” Balchunas said. “[In my opinion] good sign, solid progress.” There's 5 extra pages in new S-1 but the new stuff is spri...