Cathie Wood's ARK Invest, 21Shares Team Up to Enter Bitcoin ETF Race
The "ARK 21Shares Bitcoin ETF" hopes to be the first to win approval from U.S. regulators.
Jun 28, 2021 at 8:51 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/L6NAM66NB5HEHMOIBS3O2BAST4.jpg)
Cathie Wood, CEO of Ark Investment Management
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Cathie Wood's ARK Investment Management has joined the race to get a bitcoin exchange-traded fund (ETF) approved by the U.S. Securities and Exchange Commission (SEC).
- According to SEC filings, the noted tech investor is partnering with investment product firm 21Shares in submitting a bitcoin ETF application.
- The "ARK 21Shares Bitcoin ETF" would tap 21Shares' expertise in spinning up crypto exchange-traded products (ETPs), mostly in Europe.
- ARK and 21Shares join the swelling ranks of companies hoping this will be the year the SEC approves a bitcoin ETF.
- The SEC has swatted down dozens of bitcoin ETF proposals in recent years.
- Wood joined the board of Amun Holdings, the parent company of 21Shares, in May.
UPDATE (June 29, 09:44 UTC): Adds 21Shares to headline.
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