Investment management firm ARK Invest, headed by Catherine Wood, has filed an application to launch a bitcoin ETF with the US Securities and Exchange Commission (SEC).
According to the documents filed with the SEC, ARK Invest wants to launch the Ark21Shares ETF in cooperation with the Swiss operator of investment funds 21Shares. ARK 21Shares Bitcoin ETF will use the experience of 21Shares in promoting exchange-traded products (ETP) for cryptocurrencies in Europe. Recently, 21Shares announced that in mid-June it will launch an ETP for bitcoin on the Aquis Exchange trading platform in the UK.
Currently, the SEC is considering applications for bitcoin ETFs from Kryptoin, WisdomTree, Fidelity, VanEck and Skybridge Capital. WisdomTree and VanEck have also applied to launch an ETF on the ether. In recent years, the SEC has rejected dozens of proposals to launch bitcoin ETFs, while Canadian regulators have already approved several such products this year.
The proposed ARK Invest ETF for bitcoin will be traded on the CBOE BZX exchange if approved by the regulator. Catherine Wood has repeatedly spoken out in favor of bitcoin in the past. Under its auspices, ARK Invest has invested in Coinbase and Grayscale Bitcoin Trust.