Cathie Wood’s Ark Investment Also Files ETF Application

The number of Bitcoin ETF applications before the United States Securities and Exchange Commission is set to increase as Cathie Wood’s Ark Investment is the latest institution to file an application.

The said ETF is named ARK 21 Shares Bitcoin Futures Strategy EFT and it would be listed under the ticker ARKA. The ETF would invest in exchange-traded bitcoin futures. An ETF issuer, Alpha Architect, made the filing, which listed 21Shares as sub-advisers while Ark would provide the marketing, according to a Bloomberg report.

While many applications are still before the SEC, available information has indicated that Future ETF products could see approval before others. This is because the commission’s chairman, Gary Gensler, has repeatedly stated his preference for a futures ETF.

While analysts are still confounded on why the regulator is yet to approve one of the numerous ETF filing before it, a senior analyst Bloomberg, Eric Balchunas, is confident that the regulator could still approve one of the applications before the end of this month. According to him, the most likely is that of ProShares.

Freshly updated look at Bitcoin Futures ETF Race including the first poss date each could launch (aka when the 75 days are up). If no issues, ProShares likely trading next week.

Bitcoin markets momentum in the past few months has been very high, in anticipation of one ETF approval that would greenlight the flagship asset for U.S institutions.

As of press time, Bitcoin has now crossed the $58k level, the highest so far since May. According to CoinGecko, the asset is 10.5 percent below its May record.

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