Breaking: 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?
- Can Cardano Save Kadena? Hoskinson Reaches Out After KDA Token Plunges 60% Amid Shutdown
- Analyst Turn Bullish with $400 SOL Target as Hong Kong Approves First-Ever Solana ETF in Asia
- Veteran Trader Peter Brandt Says “MSTR Could Go Underwater” If Bitcoin Repeats 1977 Soybean Crash
- BSC Meme Season Ends as PumpFun Surpasses Four Meme Amid $8M Inflows
- ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism