Invest ARK files for Bitcoin ETF registration with industry peers
The ARK 21Shares Bitcoin ETF, presented by Cathy Wood of ARK Investment Management and Swiss crypto guardian 21Shares, has filed a registration notice with the US Securities and Exchange Commission.
The company filed Form 8-A on its securities listed on the Cboe BZX exchange on January 4. On the same day, the VanEck Bitcoin Trust and the Grayscale Bitcoin Trust used their shares to register as securities listed on the 8-A. Cboe BZX Exchange and New York Stock Exchange Arca, respectively. A day earlier, the Cboe BZX exchange approved the listing of Fidelity's spot Bitcoin (BTC) ETF.
The SEC has until January 10 to reject or approve the Bitcoin ETF shares from ARK Invest and 21Shares. Although several applications are currently pending, the regulatory body has never approved a Bitcoin ETF to list on a US exchange. In the year On January 26, 2023, the SEC rejected a proposal to list the ARK 21Shares Bitcoin ETF on the Cboe BZX, saying the application lacked adequate measures to “prevent fraud and fraudulent activity.”
However, in August 2023, US Court of Appeals Judge Naomi Rao allowed Greyscale Investments' petition to review its Bitcoin ETF application and release the SEC's order denying GBTC's listing application. The order triggered a regulatory review of all existing spot Bitcoin ETF applications. If approved, ARK 21Shares will retain an annual management fee of 0.80% of the Bitcoin ETF for operating costs such as marketing and listing.
Related: Grayscale wins SEC lawsuit over Bitcoin ETF review
