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ARK Invest Leads Race for Bitcoin ETF, Ahead of BlackRock

ARK Invest Leads Race for Bitcoin ETF, Ahead of BlackRock

ARK Invest and 21Shares Leads Race for Bitcoin ETF, Ahead of BlackRock

ARK Investment Management, in collaboration with 21Shares, is reportedly leading the race for a spot Bitcoin ETF in the United States. ARK and 21Shares filed their application with the SEC in April, ahead of BlackRock's recent filing. Analysts suggest that ARK and 21Shares should be first in line for approval, with a decision date set for August 13, 2023. BlackRock's filing has prompted other companies to re-file for spot Bitcoin ETFs. However, experts believe that the SEC is unlikely to approve a spot Bitcoin ETF in 2023, citing a lack of significant progress since the Winklevoss twins' initial filing in 2017.

By: Simran Mishra
28-Jun-2023
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