The Ark21 Shares fund is seen as the first in line for a potential bitcoin ETF launch, though the SEC could choose to approve many funds at about the same time.
, have already been filed. Crypto investment firm Grayscale is still awaiting a court decision after the SEC repeatedly rejected its proposal to convert the Grayscale Bitcoin Trust into an ETF.in April that would allow the listing of the Ark21 spot bitcoin fund. The filing has since been amended several times and now includes a surveillance-sharing provision that was introduced in BlackRock's filing for a bitcoin fund.
The SEC has rejected dozens of prior applications to create a spot bitcoin ETF, and SEC Chair Gary Gensler appeared to be leading a crackdown against the crypto industry earlier this year.that cast doubt on the SEC's efforts to classify most crypto assets as securities.The price of bitcoin was little changed on Friday, trading above $29,000.
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