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HomeCrypto NewsSEC's Decision Looms: Ark Investment's Bitcoin ETF Faces Crucial Verdict

SEC’s Decision Looms: Ark Investment’s Bitcoin ETF Faces Crucial Verdict

  • Ark Investment’s Bitcoin ETF faces a critical decision from the SEC by Jan. 10, 2024.
  • The SEC postponed the verdict to gather public opinion on the vulnerabilities of spot BTC ETFs.
  • Cathie Wood, founder of Ark Invest, anticipates a positive outcome, emphasizing the significance of SEC approval.
  • The Ark21Shares Bitcoin ETF, in collaboration with 21 shares, aims to track bitcoin’s performance and is awaiting SEC approval.
  • Recent sales of Grayscale Bitcoin Trust (GBTC) shares by Ark Investment indicate a strategic approach to market trends.
  • Despite the sales, GBTC remains a significant position in ARK Next Generation Internet ETF (ARKW).

The U.S. SEC faces a pivotal decision on Ark Investment’s Bitcoin ETF by Jan. 10, 2024. Initially delayed, the SEC sought public input on spot BTC ETF vulnerabilities. Ark’s founder, Cathie Wood, eyes SEC approval as a game-changer for spot BTC ETFs, with Bloomberg analysts estimating over a 60% approval likelihood.

Ark21Shares ETF: Awaiting the Green Light

Ark’s collaboration with 21 shares brings forth the Ark21Shares Bitcoin ETF, designed to mirror bitcoin’s performance. Pending SEC approval, it plans to utilize data from various crypto exchanges and be listed on the Cboe BZX Exchange.

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