⚡ A Good Sign for a Spot ETF
posted 19 Dec 2023
BlackRock, Ark Invest and 21Shares have recently revised (1, 2) their applications for a spot Bitcoin ETF. Notably, the ticker ARK 21SHARES BITCOIN ETF (ARKB) has appeared on the DTCC website.
These
updates signal the firms' alignment with others that have agreed to
adhere to the U.S. Securities and Exchange Commission's (SEC) terms for
issuing and redeeming shares exclusively in cash.
This
strategic move implies that these companies are proactively meeting the
SEC's requirements in anticipation of approval. Eric Balchunas, a
senior ETF analyst at Bloomberg, expressed his perspective on this
development:
“That’s basically a wrap. Debate over. In-kind will have to wait. It’s all about getting ducks in row bf holidays. Good sign.”
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