- Ark Invest and 21Shares make a pivotal amendment to their ETF filing, indicating a strategic shift ahead of potential approval.
- The amendment, possibly the final one before launch, focuses on the terms for authorized participants, reflecting the anticipation in the financial markets.
As the deadline loomed, Ark Invest, led by visionary Cathie Wood, in collaboration with 21Shares, made a significant amendment to their Bitcoin ETF filing. This move, completed just a day before the final deadline set by the U.S. Securities and Exchange Commission (SEC), marks a crucial step in their pursuit of launching the Ark 21Shares Bitcoin ETF ($ARKB).
Latest Amendment Sparks Speculation
The latest development in the world of cryptocurrency ETFs comes as Ark Invest and 21Shares filed their fifth amendment to the S-1 form on December 28, 2023. This amendment, crucially focusing on the roles of authorized participants, has fueled speculation and anticipation among investors and analysts alike.
Renowned ETF analyst Eric Balchunas from Bloomberg hinted at further amendments, tweeting,
ARK kicks off the S-1 Amendment-athon. Ahead of the pack as usual. Unclear yet what was changed tho, AP mentioned a ton but not named. Assuming that will prob come in the very final effective update just prior to launch. But we still don't know if they have signed agreement. https://t.co/mcNgpoR451
— Eric Balchunas (@EricBalchunas) December 28, 2023
This latest amendment by Ark Invest and 21Shares comes amid a broader strategic shift, notably reflected in Ark’s divestment from the Grayscale Bitcoin Trust (GBTC). This move suggests a possible realignment of strategy in anticipation of the Bitcoin ETF approval expected in early January 2024.
Such strategic shifts are not uncommon in the dynamic world of cryptocurrency investments, as entities like Ark Invest navigate the complex and evolving regulatory landscape.
Anticipation Builds for Imminent Approval
The crypto community is abuzz with anticipation, bolstered by Cathie Wood’s optimistic statements about the ongoing dialogues with the SEC being “very positive and encouraging.” This sentiment is shared by many analysts who see the approval of the first-ever spot Bitcoin ETF in the United States as not just a possibility, but an imminent reality.
The potential approval is also timed closely with the much-anticipated Bitcoin Halving event, slated for the second quarter of 2024, adding to the excitement and expectations in the crypto markets.