NewsletterBreaking: Cathie Wood’s Ark Spot Bitcoin ETF Filing Amended
Crypto Market News: The crypto market’s Bitcoin ETF frenzy continues to develop with many financial giants following Blackrock in filing for the spot Bitcoin ETF. In a latest development, Cathie Wood’s Ark Invest, which also filed an application with the SEC for a spot Bitcoin Exchange Traded Fund (ETF), made a change to its filing. Interestingly, the amendment could potentially have a clash with the Blackrock filing.
Also Read: Cardano Price Lifeline Danger As Robinhood Delists ADA – Are Losses To $0.22 Imminent?
Earlier, CoinGape reported comments about the ARK Bitcoin ETF filing having the first mover advantage, above Blackrock, which the world’s largest asset manager. This makes it an interesting wait for the SEC’s decision, and more importantly, who gets the decision first, Blackrock or Ark?
Ark Bitcoin ETF Filing – Amendments
The BlackRock filing mentioned its plans to use US crypto exchange Coinbase’s Custody platform and spot market data for pricing. The latest amendment to Ark’s spot bitcoin ETF filing relates to the inclusion of a surveillance sharing agreement with a crypto exchange. This could likely be Coinbase, considering Ark CEO Cathie Wood’s investments in Coinbase stock. It was only on June 7, 2023 that Cathie Wood’s Ark Invest added $21 Million worth Coinbase (COIN) shares to its portfolio.
Hence, there could be a conflict of interest from partnership point of view, if the Ark Bitcoin ETF also plans to use Coinbase services. Either way, this could come as a welcome problem of plenty for the US based crypto exchange.
Wood is among the Bitcoin supporters who is bullish that the top cryptocurrency would reach the $1 million milestone by the year 2023. Meanwhile, Eric Balchunas, an ETF analyst at Bloomberg, wonders if the Ark ETF decision would be delayed and Blackrock filing approved thereafter.
Also Read: Michael Saylor’s MicroStrategy Buys Another 12,333 Bitcoins, Bull Run On?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Firelight Confirms November Mainnet as Flare TVL Rises and Xaman Introduces Smart Accounts
- Cardano News: Wirex Partners EMURGO To Launch First Ever ADA Card
- Hyperliquid Rival Lighter Raises $68 Million at $1.5 Billion Valuation
- $37B Bank SoFi Launches Crypto Trading For Retail Customers
- China’s CVERC Accuses U.S. of Stealing 127k Bitcoin Amid Rising Government Crypto Adoption
- Chainlink Price Could Crash as 3 Risky Patterns Form Amid Whale Selling
- Cardano Price Could Reclaim $0.7 After Key Stakeholders Add $204M in ADA
- Uniswap Price Soars 21% on Fee Switch and Token Burn Proposal— Eyes $15 Target
- Bitcoin Price Eyes Bulls as Crypto Market Structure Bill Draft Finally Drops
- SUI Price Prediction: Analyst Eyes $20 Amid Bluefin Partnership and 2M Token Lending Deal
- HBAR Price Prediction: Analyst Eyes 90% Surge Amid Taker Buy Dominance
