Ark Invest and 21Shares Make Final Amendment to Ark 21Shares Bitcoin ETF
Just a day before the final deadline set by the SEC, Cathie Wood’s Ark Invest and 21Shares filed their fifth amendment to the form S-1 registration statement for the Ark 21Shares Bitcoin ETF. This comes amidst high anticipation for the approval of a spot Bitcoin ETF in the financial markets. The latest amendment focuses on changes to the terms followed by authorized participants. However, there may still be another amendment before the ETF is launched.
An analyst at Bloomberg suggests that the final update before the launch could include information about authorized participants and whether an agreement has been signed between the US SEC and Ark 21Shares. This amendment from Ark 21Shares coincides with Cathie Wood closing out a position in Grayscale Bitcoin Trust (GBTC), indicating a potential change in strategy ahead of the Bitcoin ETF approval in January 2024.
Spot ETF Approval Imminent
Based on comments from analysts and statements from Cathie Wood, it seems highly likely that the spot ETF approval is imminent. Positive and encouraging dialogues with the SEC staff have been reported, indicating progress towards approval. Once approved, the crypto community will eagerly anticipate the Bitcoin Halving event scheduled for Q2 2024.
Hot Take: Cathie Wood’s Ark Invest Prepares for Bitcoin ETF Launch
Cathie Wood’s Ark Invest and 21Shares have made their final amendment to the form S-1 registration statement for the Ark 21Shares Bitcoin ETF. This amendment focuses on changes to authorized participants’ terms. Analysts believe that this signals an imminent approval of a spot Bitcoin ETF by the SEC. Cathie Wood’s decision to close out a position in Grayscale Bitcoin Trust further suggests a change in strategy ahead of the ETF approval. The crypto community eagerly awaits the launch of the ETF and looks forward to the upcoming Bitcoin Halving event in 2024.
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