{"id":85629,"date":"2023-10-12T12:09:00","date_gmt":"2023-10-12T09:09:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85629"},"modified":"2025-09-13T00:29:58","modified_gmt":"2025-09-12T21:29:58","slug":"ark-invest-and-21shares-amend-filing-for-a-spot-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ark-invest-and-21shares-amend-filing-for-a-spot-bitcoin-etf\/","title":{"rendered":"ARK Invest and 21Shares amend filing for a spot Bitcoin ETF"},"content":{"rendered":"<p>ARK Invest has amended its joint filing with 21Shares<a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1869699\/000119312523254102\/d549524ds1a.htm\"> \u0437\u0430\u044f\u0432\u043a\u0443<\/a> for the registration of a spot Bitcoin ETF. Bloomberg analyst Eric Balchunas saw this as a &#8216;good signal&#8217;.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">There&#8217;s 5 extra pages in new S-1 but the new stuff is sprinkled throughout like the two above egs. So what does this mean? It means ARK got the SEC&#8217;s comments and has dealt with them all, and now put ball back in SEC&#8217;s court. IMO good sign, solid progress.<\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1712197046206148728?ref_src=twsrc%5Etfw\">October 11, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>In the new S-1 there are five additional pages, but the new material is sprinkled throughout\u2026 What does this mean? It means ARK received the SEC&#8217;s comments and has dealt with all of them, and now returns the ball to the regulator. In my view, a good sign, solid progress,<\/em> \u2014 wrote him.<\/p>\n<\/blockquote>\n<p>Separately, the specialist noted that none of the comments were particularly novel or comprehensive.<\/p>\n<p>In the amended filing the company added, among other things, the asset custody methods and the process for determining net asset value (in accordance with GAAP).<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>The assets in custody at the custodian [Coinbase Custody] are held on separate accounts on the Bitcoin blockchain, typically called &#8216;wallets&#8217;, and therefore are not commingled with corporate or other clients&#8217; assets<\/em>,<\/p>\n<\/blockquote>\n<p>Bloomberg analyst James Seyffart agreed with his colleagues&#8217; conclusions. He also noted that the changes reflect what the Commission wanted to clarify.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>A good sign for future approval<\/em>, \u2014 the expert concluded.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Adding details stating that the ETF&#8217;s <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> will be held on an individual wallet and not commingled. This all signals to us that Ark\/21Shares &#038; likely others are talking with the SEC about things they want cleared up in these docs. Good sign for future approval IMO <a href=\"https:\/\/t.co\/0ZLLX4vK0w\">https:\/\/t.co\/0ZLLX4vK0w<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\"https:\/\/twitter.com\/JSeyff\/status\/1712195787923370412?ref_src=twsrc%5Etfw\">October 11, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Van Buren Capital&#8217;s general partner Scott Johnson noted that the amendments also contain a comment about the risks of a decline in ETF value.<\/p>\n<p>Specifically, regulators could impose limits on Bitcoin use due to the environmental impact of mining. Another factor could be an uptick in use of digital gold for illicit purposes.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>Based on ARK&#8217;s amendments, it does not seem the agency is creating any unnecessary obstacles in reviewing the disclosures<\/em>, \u2014 the expert explained.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Still chuckling a bit at this \u201celectricity usage\u201d risk factor. Ark couldn\u2019t even be bothered to put in a coherent header summary or more than a couple short sentences. You know the convo w\/ the SEC was like \u201coh yea, good call Mr. SEC attorney, this is definitely material \/s\u201d <a href=\"https:\/\/t.co\/unIArFDKl8\">https:\/\/t.co\/unIArFDKl8<\/a><\/p>\n<p>\u2014 Scott Johnsson (@SGJohnsson) <a href=\"https:\/\/twitter.com\/SGJohnsson\/status\/1712285307087852001?ref_src=twsrc%5Etfw\">October 12, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As noted, former BlackRock director Steven <a href=\"https:\/\/forklog.com\/en\/news\/former-blackrock-director-forecasts-timeline-for-u-s-bitcoin-etf-approval\">Shonfield<\/a> suggested the agency would approve the instrument <a href=\"https:\/\/forklog.com\/en\/news\/former-blackrock-director-forecasts-timeline-for-u-s-bitcoin-etf-approval\">within three to six months<\/a>.<\/p>\n<p>Remarks in April suggested that the agency might approve the instrument within a similar timeframe.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ARK Invest has amended its joint filing with 21Shares for the registration of a spot Bitcoin ETF. Bloomberg analyst Eric Balchunas saw this as a &#8216;good signal&#8217;.<\/p>\n","protected":false},"author":1,"featured_media":85630,"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":[1372,1218,569,1138,36,128],"class_list":["post-85629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-21shares","tag-ark-invest","tag-etf","tag-opinions","tag-regulation","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85629","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=85629"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85629\/revisions"}],"predecessor-version":[{"id":85631,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85629\/revisions\/85631"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/85630"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=85629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=85629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=85629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}