An amended spot Bitcoin ETF filing from ARK Invest and 21Shares could show progress on approvals is happening, according to ETF analysts, as the updates seem to address earlier concerns flagged by the SEC.
ARK Invest and 21Shares amended spot Bitcoin ETF filing seemingly addresses earlier concerns highlighted by the SEC, which is a good sign of progress, according to Bloomberg's ETF analysts.to the Securities and Exchange Commission for approval adds additional information about the proposed spot Bitcoin ETF, including practices for how the fund will custody assets and determine asset values.
There'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's comments and has dealt with them all, and now put ball back in SEC's court. IMO good sign, solid progress.Changes included ARK noting the fund’s net asset value calculations are not in line with the Generally Accepted Accounting Principles — an accounting standard used by the SEC, said Balchunas.
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