ARK and 21Shares make another attempt at a bitcoin etf approval - Aliens: AI Crypto News & Markets Updates
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ARK and 21Shares make another attempt at a bitcoin etf approval

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The Block

Thu, May 26, 2022

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Cboe BZX Exchange has filed a rule change proposal to list the ARK 21Shares Bitcoin ETF, putting the SEC on the clock for another decision.

In the past, the SEC has issued multiple extensions for rule change proposals attached to spot bitcoin ETFs, with none ultimately getting a green light, including a previous iteration of the ARK 21Shares offering.

However, the SEC has approved futures-based bitcoin ETF products, which some have argued undercuts the argument against spot products, since a futures product, though trading on an exchange with surveillance sharing agreements in the Chicago Mercantile Exchange, is still priced on by the unregulated bitcoin spot market.

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