May 23, 2024

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Bitcoin ETF Race: Ark adjusts SEC filing to match BlackRock

Bitcoin ETF Race: Ark adjusts SEC filing to match BlackRock

ARK Invest, one of thin Companies vying for a spot forex fund (ETF), amended its SEC filing to add a surveillance sharing agreement. The change happened after a week BlackRock feet for its Bitcoin ETF, which includes such an agreement.

like ARK submitted its proposal to the SEC in April, about two months before BlackRock applied, and today’s review could help ARK cross the finish line first.

depending on the day filingThe agreement — dubbed the “Spot BTC SSA” — is between ARK and Chicago Board Options (CBOE) BZX Exchange and cryptocurrency platform. However, the cryptocurrency trading platform was not disclosed.

A Surveillance Sharing Agreement (SSA) refers to information that is shared with regulators in order to prevent possible market manipulation. This includes market trading activity, clearing activity and customer identification. the SEC He was adamant that none of the applicants had demonstrated their ability to adequately protect investors from manipulative practices.

Previous rejected or pending orders did not include an SSA, which caught the attention of many when BlockRock included one in its ETF filing last week. The $9 trillion asset manager bring buzz and the bulls Again with its application last week. Whether the industry views it favorably because of its size, or because of the watch-sharing agreement, is a matter of conjecture.

Cathy Wood ARK Box – which first application To get a Bitcoin ETF in June 2021 with global crypto ETF provider 21Shares – it was unacceptable Earlier this year by the US Securities and Exchange Commission (SEC). Regulators, once again, cited failure to demonstrate how they can fend off market manipulation by cryptocurrency traders.

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Supreme Education Council did not agreeHowever, the first leveraged Bitcoin futures ETF was released last Friday. The exchange-traded fund, BITX, traded yesterday for the first time, recording A Successful launchwith $5.5 million in trading for the day.