Ark 21Shares Backers Take Another Shot at Spot Bitcoin ETF Approval

The initial application for a spot bitcoin ETF was rejected in April.

AccessTimeIconMay 26, 2022 at 3:39 p.m. UTC
Updated May 26, 2022 at 4:12 p.m. UTC

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

Cathie Wood’s ARK Investment Management and Switzerland-based investment-products issuer 21Shares are having another try at getting their spot bitcoin (BTC) exchange-traded fund (ETF) approved by the U.S. Securities and Exchange Commission.

  • The SEC rejected an application for the ARK 21Shares Bitcoin ETF in April, citing a lack of investor protections.
  • A new filing was made May 13 by Cboe BZX Exchange.
  • The SEC said in a filing that it is soliciting comments with respect to the new application.
  • The SEC has yet to approve any spot bitcoin ETFs. It has either rejected or delayed those requests, while allowing funds that trade bitcoin futures.
  • In its filing, Cboe said it believed it “represents a regulated market of significant size” and that the proposal should be approved, according to the May 25 filing.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

CoinDesk - Unknown

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.