{"id":80878,"date":"2023-06-28T11:32:25","date_gmt":"2023-06-28T08:32:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80878"},"modified":"2025-09-11T19:38:38","modified_gmt":"2025-09-11T16:38:38","slug":"sec-to-review-ark-invests-spot-bitcoin-etf-filing-ahead-of-blackrock","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sec-to-review-ark-invests-spot-bitcoin-etf-filing-ahead-of-blackrock\/","title":{"rendered":"SEC to review ARK Invest&#8217;s spot Bitcoin ETF filing ahead of BlackRock"},"content":{"rendered":"<p>In the SEC\u2019s list of filings to launch a spot Bitcoin-<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a>, ARK Invest with 21Shares sit ahead of BlackRock in terms of filing time, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-06-26\/cathie-wood-s-ark-says-it-s-first-in-line-for-spot-bitcoin-etf-btc\">Bloomberg<\/a>.<\/p>\n<p>Experts interviewed by the outlet challenged the prevailing view that BlackRock could be the trailblazer.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Other applicants will be able to supplement their proposals with similar agreements at little cost,&#8221;<\/em> \u2014<a href=\"https:\/\/www.afr.com\/markets\/currencies\/cathie-wood-s-ark-says-it-s-first-in-line-for-spot-bitcoin-etf-20230627-p5djo5\">said<\/a> ARK Invest analyst Yassine Elmandjra.<\/p>\n<\/blockquote>\n<p>ARK Invest and 21Shares<a href=\"https:\/\/forklog.com\/en\/news\/ark-and-21shares-file-another-bid-for-bitcoin-etf-approval\"> implemented<\/a> this in April.<\/p>\n<p>Bloomberg analyst James Seyffart agreed with that view.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;21Shares, ARK and <span data-descr=\"Chicago Board Options Exchange\" class=\"old_tooltip\">CBOE<\/span> are first in line because the SEC will make a decision on them by August 13, 2023. We do not yet have a date for other 19b-4 filings similar to BlackRock,&#8221;<\/em> \u2014<a href=\"https:\/\/www.cointelegraph.com\/news\/cathie-wood-s-ark-reportedly-first-in-line-for-a-spot-bitcoin-etf\">said<\/a> the analyst.<\/p>\n<\/blockquote>\n<p>News of the latest wave triggered a flood of filings from other firms. <a href=\"https:\/\/forklog.com\/en\/news\/valkyrie-seeks-to-register-a-spot-bitcoin-etf\">Valkyrie<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/blackrock-files-for-bitcoin-etf-launch\">BlackRock<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/wisdomtree-and-invesco-file-applications-to-launch-bitcoin-etfs\">WisdomTree and Invesco<\/a> entered the ETF race. <a href=\"https:\/\/forklog.com\/en\/news\/journalists-reveal-fidelity-plans-to-file-for-a-spot-bitcoin-etf\">Fidelity Investments<\/a> is expected to follow suit soon.<\/p>\n<p>The wave sparked speculation about possible insider information regarding a shift in the SEC\u2019s policy on spot bitcoin ETFs.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;It\u2019s hard to believe this is all a coincidence,&#8221;<\/em> \u2014<a href=\"https:\/\/cointelegraph.com\/news\/cathie-wood-s-ark-reportedly-first-in-line-for-a-spot-bitcoin-etf\">said Nate Geraci<\/a>, president of ETF Store.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">New t-shirt drop via <a href=\"https:\/\/twitter.com\/EricBalchunas?ref_src=twsrc%5Etfw\">@EricBalchunas<\/a>\u2026 ?<\/p>\n<p>I will say, seems hard to believe this is all coincidence:<\/p>\n<p>BlackRock files for spot btc ETF<\/p>\n<p>4 other issuers quickly follow suit<\/p>\n<p>EDX crypto exchange launches (backed by Fidelity, Schwab, etc)<\/p>\n<p>2X leveraged btc futures ETF allowed by SEC <a href=\"https:\/\/t.co\/5CfG7ThcLg\">pic.twitter.com\/5CfG7ThcLg<\/a><\/p>\n<p>\u2014 Nate Geraci (@NateGeraci) <a href=\"https:\/\/twitter.com\/NateGeraci\/status\/1673343806215692289?ref_src=twsrc%5Etfw\">June 26, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>There remain skeptics who doubt approval this year.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;There hasn&#8217;t been much progress in filings by many firms. We don&#8217;t believe spot Bitcoin ETFs will be available to the general public in the near term. It may only happen next year or in the following year,&#8221;<\/em> \u2014<a href=\"https:\/\/cointelegraph.com\/news\/cathie-wood-s-ark-reportedly-first-in-line-for-a-spot-bitcoin-etf\">said<\/a> Wade Gunter, partner at Wilshire Phoenix.<\/p>\n<\/blockquote>\n<p>To date, the SEC has rejected almost all ETF filings. The Commission has granted exemptions for products <a href=\"https:\/\/forklog.com\/en\/news\/sec-quietly-approves-first-futures-based-bitcoin-etf\">ProShares<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/sec-approves-futures-based-bitcoin-etfs-from-vaneck-and-valkyrie-investments\">Valkyrie Investments<\/a>, which are based on Bitcoin futures on the Chicago Mercantile Exchange. Grayscale <a href=\"https:\/\/forklog.com\/en\/news\/grayscale-sues-sec-over-refusal-to-convert-gbtc-into-an-etf\">has filed suit against the regulator<\/a> after the rejection.<\/p>\n<p>Earlier, Elmandjra <a href=\"https:\/\/forklog.com\/en\/news\/opinion-blackrocks-etf-could-be-a-turning-point-for-bitcoin\">noted<\/a>, that BlackRock\u2019s application for a Bitcoin ETF could be a turning point on the path to institutional recognition of digital gold.<\/p>\n<p>Recall that Circle CEO Jeremy Allaire <a href=\"https:\/\/forklog.com\/en\/news\/ceo-circle-regulators-have-made-progress-on-the-bitcoin-etf\">predicted<\/a>, that the recent wave of filings to launch crypto spot ETFs tied to digital gold would lead to regulatory approvals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the SEC\u2019s list of filings to launch a spot Bitcoin ETF, ARK Invest with 21Shares are ahead of BlackRock in terms of filing time.<\/p>\n","protected":false},"author":1,"featured_media":80879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1372,1218,865,128,1211],"class_list":["post-80878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-21shares","tag-ark-invest","tag-blackrock","tag-sec","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80878"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80878\/revisions"}],"predecessor-version":[{"id":80880,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80878\/revisions\/80880"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80879"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}