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

It seems highly unlikely that the application would be accepted by the U.S. SEC.

Written By Stuti Mansata
Published May 26, 2022 11:51 AM
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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.

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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