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☆ Bitcoin ETFs see record-high trading volumes as retail investors jump on crypto rally
▼ + stars: | 2024-02-28 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Retail traders appear to be using a new tool during this huge rally for bitcoin — exchange-traded funds. The funds, which launched last month, have seen their trading volume surge this week as bitcoin continues to climb. That is well above its previous record high of roughly 43 million shares, which came on Tuesday. The highly active market around these funds is likely a sign that retail traders are using the ETFs to participate in the bitcoin rally. The trading volume is even more impressive when considering the price.

Persons: bitcoin Organizations: Fidelity, Bitcoin

☆ Ether is poised for an ETF approval in May, but the crypto’s price action may be subdued
▼ + stars: | 2024-02-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Investors expect the Securities and Exchange Commission to greenlight spot ether ETFs in May, but the price action for the crypto could be subdued compared to bitcoin's moves in the runup to its ETF approvals. That compares to the 55% surge bitcoin saw after BlackRock first filed its spot ETF application for the flagship crypto. Regardless, we see the spot ether ETF being less appreciated by the market." JPMorgan estimates a "no more than 50% chance" of spot ether ETF approval by May 23, the final deadline for the SEC to approve or deny the Ark/21Shares application . Schwenkler said any excitement leading up to potential ether ETF approvals will be "less speculative" and that a lot of it is priced in already.

Persons: Kenneth Worthington, Nico Cordeiro, there's, Owen Lau, Oppenheimer, Gustavo Schwenkler, Bitcoin, Solana, Schwenkler, — CNBC's Michael Bloom Organizations: Securities and Exchange Commission, JPMorgan, BlackRock, BTC, ETH, SEC, CNBC, Leavey School of Business, Santa Clara University, of Locations: Southern, of New York, bitcoin

☆ The early winner in the bitcoin ETF race has raked in $1 billion
▼ + stars: | 2024-01-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

As Bernstein analyst Gautam Chhugani highlighted in a note to clients Thursday, BlackRock's iShares Bitcoin Trust (IBIT) has been an early winner among the spot bitcoin ETFs that were approved last week. However, the fund has seen about $1 billion in net outflows over the past week, according to FactSet. Even with the GBTC outflows, the spot bitcoin funds have still seen hundreds of millions of net inflows, according to FactSet. "GBTC at 150 bps fee vs. ~20bps fee for rest, would mean cheaper ETFs will continue to absorb GBTC outflows. In that context, $900m of net inflows remains impressive," Bernstein's Chhugani said in a note.

Persons: Bernstein, Gautam Chhugani, BlackRock's, Jay Jacobs, GBTC, Bernstein's Chhugani Organizations: IBIT, Fidelity Wise Locations: U.S, BlackRock

☆ Still unbelievably early in the lifetime of Spot Bitcoin ETFs, says Ophelia Snyder
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStill unbelievably early in the lifetime of Spot Bitcoin ETFs, says Ophelia SnyderOphelia Snyder, President & Co-Founder of 21Shares, discusses Spot Bitcoin ETFs one week after their public debut.

Persons: Ophelia Snyder Ophelia Snyder

☆ Why spot ETFs may be a game changer for bitcoin
▼ + stars: | 2024-01-13 | by ( Emily Glass | ) www.cnbc.com time to read: +1 min

The Securities and Exchange Commission's approval of 11 spot bitcoin ETFs this week could be a turning point for cryptocurrency investing. Her firm partnered with 21Shares to launch the ARK 21Shares Bitcoin ETF. "We really believe this is an important moment for us to help with the democratization of bitcoin access, giving more people access," Wood told "ETF Edge" on Monday. The first-ever batch of spot ETFs began trading Thursday. "It's also very much part of a new wave of disruptive technology," the firm's president and co-founder told "ETF Edge."

Persons: Cathie Wood, 21Shares, Wood, Ophelia Snyder's, Snyder, bitcoin Organizations: Securities, Exchange, Ark Invest Locations: bitcoin

☆ Ark Invest president says bitcoin is now a 'public good' that all investors should have access to
▼ + stars: | 2024-01-11 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Brendan McDermid | ReutersArk Invest President and COO Tom Staudt believes bitcoin is now a "public good" to which all investors should have access, as the company launches its first bitcoin exchange-traded fund. watch nowThe ARK 21Shares Bitcoin ETF is one of six initially waiving fees, alongside the Bitwise Bitcoin ETF, the Fidelity Wise Origin Bitcoin Trust, the WisdomTree Bitcoin Fund, the Invesco Galaxy Bitcoin ETF and the Valkyrie Bitcoin Fund. "This is a new asset class. We haven't had a new asset class for financial portfolio allocation in quite some time, and with a new asset class comes lower correlation to the other asset classes previously allocated to." Bitcoin was trading at around $47,300 on Thursday morning , according to Coin Metrics, and the SEC's decision has many analysts bullish about newly unlocked potential for massive gains.

Persons: Cathie Wood, Brendan McDermid, Tom Staudt, bitcoin, BlackRock's, Staudt, CNBC's, 21Shares, Bitcoin, haven't, bullish Organizations: Ark Invest, CNBC, New York Stock Exchange, Reuters, Invest, U.S . Securities, Exchange Commission, Fidelity, Bitcoin, Galaxy, U.S, Metrics Locations: New York City, U.S

☆ ARK Invest President says Bitcoin ETF is about removing barriers to crypto investing
▼ + stars: | 2024-01-11 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK Invest President says Bitcoin ETF is about removing barriers to crypto investingTom Staudt, President and COO of ARK Invest, discusses the SEC's approval of Bitcoin ETFs and the launch of ARK 21Shares Bitcoin ETF.

Persons: Tom Staudt Organizations: ARK Invest

☆ Cathie Wood says bitcoin ETF approval makes her $1.5 million bull case more likely
▼ + stars: | 2024-01-11 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Ark Invest's Cathie Wood said the approval of bitcoin exchange-traded funds in the U.S. made her more convinced that the world's largest cryptocurrency could hit her wildly bullish target. For her bull case, the Ark Invest chief sees bitcoin hitting $1.5 million by 2030. "We think the probability of the bull case has increased with this SEC approval. The Ark Invest CEO and chief investment officer has been a longtime crypto bull. Ark Invest has partnered with 21Shares on a proposed bitcoin fund — the Ark21Shares Bitcoin ETF (ARKB).

Persons: Cathie Wood, Wood, Bitcoin, 21Shares Organizations: Ark Invest, SEC, U.S . Securities, Exchange Commission, Invest Locations: U.S

☆ What will it cost you to buy a bitcoin ETF? Here are the cheapest and most expensive funds
▼ + stars: | 2024-01-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The Bitwise Bitcoin ETF (BITB) has the lowest expense ratio of all the new bitcoin funds, at 0.20%. Several other funds are close behind, including the Ark 21Shares Bitcoin ETF (ARKB) at 0.21% and the iShares Bitcoin Trust (IBIT) at 0.25%. Other proposed funds have similar waivers, meaning early adopters of the bitcoin ETFs will have little or zero management cost for a brief time. Bitcoin ETF fee comparison Fund Ticker Fee Bitwise Bitcoin ETF BITB 0.20%* Ark 21Shares Bitcoin ETF ARKB 0.21%* Fidelity Wise Origin Bitcoin Fund FBTC 0.25%* iShares Bitcoin Trust IBIT 0.25%* Valkyrie Bitcoin Fund BRRR 0.25%* VanEck Bitcoin Trust HODL 0.25% Franklin Bitcoin ETF EZBC 0.29% WisdomTree Bitcoin Fund BTCW 0.30%* Invesco Galaxy Bitcoin ETF BTCO 0.39%* Hashdex Bitcoin ETF DEFI 0.94% Grayscale Bitcoin Trust GBTC 1.5%Source: SEC filings; * indicates temporary waiver for part or all of the management feeThe fees for bitcoin funds are higher than many broad stock index funds, with the SPDR S&P 500 ETF Trust (SPY) charging less than 0.10%. For example, Ark-21Shares, Valkyrie, Invesco-Galaxy and others had shown higher fees initially but lowered them in subsequent filings.

Persons: Jonathan Raa, Bitwise, Bryan Armour Organizations: Nurphoto, Franklin, SEC, Trust, United States Oil Fund, Fund, North America, Morningstar

☆ Dollar gains on yen, bitcoin edges up before expected SEC decision
▼ + stars: | 2024-01-10 | by ( ) www.cnbc.com time to read: +3 min

The SEC was expected to announce later in the day whether it will approve applications from asset managers Ark Investments and 21Shares (ABTC.S) to launch a spot bitcoin ETF. More than a dozen bitcoin ETF applications - including from BlackRock (BLK.N), Fidelity and VanEck - are also pending with the agency. The Consumer Price Index (CPI) due out on Thursday is the next likely driver of dollar direction. It is expected to show that headline inflation rose 0.2% in the month and by 3.2% on an annual basis. Anticipation of a positive SEC decision on ETFs, which is likely to draw billions of dollars in new investments, has boosted bitcoin prices in the past two months.

Persons: Exchange Commission's, Marc Chandler, Chandler, bitcoin, Chris Weston, Ethereum Organizations: Federal Reserve, U.S . Securities, Exchange, SEC, Ark Investments, BlackRock, Fidelity, Institute for Supply Management, Index, Fed, Bank of Japan Locations: U.S, Bannockburn, New York, Japan

☆ The spot bitcoin ETF: Here's what happens when it starts trading
▼ + stars: | 2024-01-10 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

Spot bitcoin ETF feesBitwise (BITB) 0.0% (after first six months: 0.2%)ARK Invest/21Shares (ARKB): 0.0% (after first six months: 0.21%)Invesco Galaxy Bitcoin ETF (BTCO) 0.0% (after first six months: 0.39%)iShares Bitcoin Trust (IBIT) 0.12% (after first 12 months: 0.25%)VanEck Bitcoin Trust (HODL) 0.25%Franklin Bitcoin ETF (EZBC) 0.29%Fidelity Wise Origin Bitcoin Trust (FBTC) 0% (after July 31, 2024, 0.25%)WisdomTree Bitcoin Trust (BTCW) 0.0% (after first six months 0.3%)Valkyrie Bitcoin Fund (BRRR) 0.0% (after three months 0.49%)Grayscale Bitcoin Trust (GBTC) 1.5%Hashdex Bitcoin (DEFI) 0.9%Invesco's Galaxy Bitcoin ETF has set its expense ratio at 0.0% for the initial six months and the first $5 billion in assets, and goes to 0.39% after. Source: Bloomberg/SEC.govHow will a spot bitcoin trade relative to bitcoin and bitcoin futures? One of the main questions is how well a spot bitcoin ETF will track bitcoin and bitcoin futures. Simeon Hyman, ProShares' global investment strategist who manages the largest bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (BITO) that launched in October 2021, noted that bitcoin futures ETFs have tracked bitcoin "fairly well." Some are concerned that the creation and redemption process that was agreed upon to create spot bitcoin ETFs could result in a bitcoin ETF trading at a premium to its NAV.

Persons: 21Shares, iShares, VanEck, WisdomTree, Bitcoin, Simeon Hyman, ProShares Organizations: Securities and Exchange Commission, Bitcoin, Franklin Bitcoin, Galaxy, Bloomberg Locations: bitcoin

☆ Cryptocurrency investors eagerly awaiting SEC ruling on bitcoin ETFs
▼ + stars: | 2024-01-05 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

Crypto investors are eagerly awaiting an imminent ruling from the U.S. Securities and Exchange Commission that will likely approve the trading of a spot bitcoin exchange-traded fund, more than a decade after initial attempts were rejected. 13 companies have filed for a spot bitcoin ETF:Grayscale Bitcoin TrustArk/21Shares Bitcoin TrustBitwise Bitcoin ETF TrustBlackRock Bitcoin ETF TrustVanEck Bitcoin TrustWisdomTree Bitcoin TrustValkyrie Bitcoin FundInvesco Galaxy Bitcoin ETFFidelity Wise Origin Bitcoin TrustGlobal X Bitcoin TrustHashdex Bitcoin ETFFranklin Templeton Digital Holdings TrustPando Asset Spot Bitcoin TrustHow the SEC will proceedThere are two components to the applications:1) A 19b-4 filing, which is a form used by exchanges to inform the SEC of a proposed rule change. In this case, each company filing for the spot bitcoin ETF has differences in the way the product might be structured. Invesco's Galaxy Bitcoin ETF has set its expense ratio at 59 basis points, which are waived for the initial six months and the first $5 billion in assets. Grayscale Bitcoin Trust currently charges 2% but has said it's committed to lowering the fee once its application to convert to a bitcoin ETF is approved.

Persons: Fidelity's, it's, Gary Gensler's, Gensler, Bitcoin, Coinbase, Binance, Changpeng Zhao, Zhao, Wood Organizations: U.S . Securities, Exchange Commission, BlackRock, Fidelity, Bitcoin, Franklin Templeton Digital Holdings Trust, SEC, Securities, NYSE, Nasdaq, Galaxy, U.S ., Appeals, U.S . Department of Justice, Binance

☆ Swiss firm Pando becomes 13th filer for spot bitcoin ETF
▼ + stars: | 2023-12-04 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +1 min

Dec 4 (Reuters) - Pando Asset AG, a digital asset management firm based in Switzerland, last week became the latest issuer to submit an application to the U.S. Securities and Exchange Commission to launch an exchange-traded fund (ETF) tied to spot bitcoin prices. Pando becomes the 13th company vying for a share of what the cryptocurrency world believes could become a multi-billion dollar product, SEC filings showed. Others range from asset management giants like BlackRock and Fidelity to more specialized ETF providers like ARK Investments. Pando is a latecomer to the U.S. spot bitcoin race, but already has three other spot crypto exchange-traded products (ETPs) on the SIX Swiss Exchange. Its ETF proposal included Bank of New York Mellon as the administrator of the Pando Asset Spot Bitcoin Trust.

Persons: Pando, Suzanne McGee, Ira Iosebashvili Organizations: Pando Asset AG, U.S . Securities, Exchange Commission, SEC, BlackRock, Fidelity, ARK Investments, SIX Swiss Exchange, Bank of New York Mellon, Pando isn't, ARK Investment Management, Thomson Locations: Pando, Switzerland, U.S

☆ Ark Investments sets 0.80% fee for proposed spot bitcoin ETF
▼ + stars: | 2023-11-24 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +1 min

Since 2021, the SEC has rejected multiple applications to issue spot bitcoin ETFs, arguing that the cryptocurrency market is vulnerable to manipulation. In August, a federal court ruled that the SEC wrongly rejected Grayscale Investments' application to convert its Bitcoin Trust into a spot bitcoin ETF. SEC chair Gary Gensler said last month that the SEC is evaluating as many as 10 spot bitcoin ETF proposals. The average fee levied on U.S. ETFs currently hovers around 0.54%, but Ark's proposed fee of 0.80% is significantly lower than the 2% that Grayscale currently charges investors on its spot bitcoin trust. If the SEC does approve some or all of the pending spot bitcoin ETF applications in early January, industry participants and analysts expect a fierce battle for market share to follow.

Persons: Cathie Wood, 21Shares, Gary Gensler, Ark's, It's, Suzanne McGee, Elaine Hardcastle Organizations: ARK Investment Management, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Swiss

☆ ARK Invest CEO Cathie Wood: Most people understand that bitcoin is the 'money revolution'
▼ + stars: | 2023-11-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK Invest CEO Cathie Wood: Most people understand that bitcoin is the 'money revolution'Cathie Wood, ARK Invest CEO and CIO, joins 'Squawk Box' to discuss ARK Invest's 5 new ETF products in partnership with 21Shares, SEC's approval of bitcoin ETFs, the state of crypto sector at large, autonomous driving, Tesla, and more.

Persons: Cathie Wood, 21Shares Organizations: ARK Invest

☆ Tesla is the biggest A.I. play in the world, says ARK Invest CEO Cathie Wood
▼ + stars: | 2023-11-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla is the biggest A.I. play in the world, says ARK Invest CEO Cathie WoodCathie Wood, ARK Invest CEO and CIO, joins 'Squawk Box' to discuss ARK Invest's 5 new ETF products in partnership with 21Shares, SEC's approval of bitcoin ETFs, the state of crypto sector at large, autonomous driving, Tesla, and more.

Persons: Tesla, Cathie Wood, 21Shares Organizations: ARK, ARK Invest

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK launches new crypto-focused ETFs in 21Shares partnership: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Spencer Dinwiddie, NBA athlete and co-founder of Calaxy, and Solo Ceesay, co-founder and CEO of Calaxy, discuss the latest for the web3-focused app. In the exclusive interview, Dinwiddie and Ceesay explain the new feature for sending crypto or NFTs on the app, discuss digital asset markets and provide their 2024 outlook for web3.

Persons: explainers, Spencer Dinwiddie, Ceesay, Dinwiddie Organizations: CNBC Crypto, CNBC, NBA, Calaxy

☆ Fidelity rolls out suite of new ETFs, slashes fees
▼ + stars: | 2023-11-13 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +1 min

Nov 13 (Reuters) - Fidelity launched a group of six new exchange-traded funds (ETFs) Monday and announced sharp reductions on management fees on nearly a third of its total ETF lineup, kicking off what analysts expect to be another strong week for ETF debuts. So far this year, asset managers have launched 419 ETFs, according to Morningstar Direct, taking 2023 a step closer toward breaking the 2021 record of 475 new ETFs. The move will boost Ark's lineup from eight ETFs to a total of 15. The Fidelity products offer fees of 18 basis points to 28 basis points, compared with an average fee of around 63 basis points for actively managed ETFs, according to Bryan Armour, mutual fund analyst at Morningstar. "These are very, very substantial reductions, and the new fees are very low," said Armour.

Persons: John Hooson, Harriman, Bryan Armour, Suzanne McGee, Ira Iosebashvili, Deepa Babington Organizations: Fidelity, Morningstar, Invest, 21Shares, Brown, Thomson

☆ Cathie Wood's ARK and 21Shares plan America's first ether ETF as race to open spot bitcoin funds heats up
▼ + stars: | 2023-09-07 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Cathie Wood's Ark fund and 21Shares are planning America's first spot ether ETF. They filed an SEC application Wednesday as a race to create spot bitcoin ETFs gets underway. The ARK 21Shares ethereum ETF promises a safer way to trade the second-largest cryptocurrency. Many regard that decision as helping pave the way for spot bitcoin ETFs. ARK and 21Shares have also submitted an SEC application for a bitcoin spot ETF.

Persons: bitcoin, There's, ARK's Wood, 21Shares, Ophelia Snyder, Fundstrat Organizations: SEC, Service, Securities and Exchange Commission, Fidelity, Investments, Bloomberg Locations: Wall, Silicon, BlackRock

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK Invest and 21Shares file proposal to list a spot ether ETF: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Zac Townsend of Meanwhile explains new standards adopted by the Financial Accounting Standards Board for companies holding crypto.

Persons: explainers, Zac Townsend Organizations: CNBC Crypto, CNBC, Financial

☆ Cathie Wood's ARK Invest files for first US spot-ether ETF
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

Cathie Wood, Founder, CEO, and CIO of ARK Invest, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2022. REUTERS/David Swanson Acquire Licensing RightsSept 6 (Reuters) - Cathie Wood's Ark Invest and crypto investment firm 21Shares are seeking regulatory approval to set up an exchange-traded fund (ETF) that would directly hold ether, according to a filing with the U.S. Securities and Exchange Commission (SEC) on Wednesday. The case has been closely watched by the cryptocurrency and asset management industries, which have been trying for years to convince the SEC to approve a spot bitcoin ETF. Cboe Global Markets earlier this year filed a proposal with the U.S. SEC to list and trade shares of a spot bitcoin ETF by Ark Invest and 21Shares on the Cboe BZX exchange. The regulator has in recent years rejected dozens of applications for spot bitcoin ETFs, citing inadequate levels of trading surveillance that could leave the underlying spot market subject to fraud and manipulation.

Persons: Cathie Wood, David Swanson, 21Shares, Jaiveer Singh, Devika Organizations: ARK Invest, Milken, Global Conference, REUTERS, U.S . Securities, Exchange Commission, SEC, U.S, U.S . District of Columbia, Cboe, Ark Invest, Thomson Locations: Beverly Hills , California, U.S, U.S ., Bengaluru

☆ Here's what's next for bitcoin ETFs after a court ruled in favor of Grayscale over the SEC
▼ + stars: | 2023-08-29 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +6 min

A federal appeals court struck down the SEC's order denying the conversion of the Grayscale Bitcoin Trust (GBTC) into an exchange traded fund. The decision does not guarantee that investors will be able to freely trade a bitcoin ETF anytime soon, however. Another impact could be for the bitcoin futures ETFs that are already on the market, led by the $940 million ProShares Bitcoin Strategy ETF (BITO) . Those funds could see outflows if investors choose the spot bitcoin products instead. Consider Valkyrie's attempt to change its bitcoin futures product into a broader crypto fund that also holds ether futures.

Persons: Jeremy Senderowicz, Vedder Price, Senderowicz, Terrence Yang, Swan, Yang, Cathie Wood, Islam, bitcoin Organizations: Securities, Exchange, SEC, Appeals, U.S, Supreme, CNBC, Ark Invest, Bloomberg News, BlackRock, Marathon

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSEC delays decision on ARK 21Shares spot bitcoin ETF: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Puneet Singhvi of Citi discusses how institutions are making use of crypto and blockchain technology in their portfolios and businesses.

Persons: explainers Organizations: SEC, CNBC Crypto, CNBC, Citi

☆ US SEC delays decision on Cathie Wood's spot bitcoin ETF
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] The headquarters of the U.S. Securities and Exchange Commission (SEC) is seen in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew KellyAug 11 (Reuters) - The U.S. Securities and Exchange Commission (SEC) has delayed a decision on whether to approve Cathie Wood-led Ark Investment Management's (ARK) spot bitcoin exchange-traded fund (ETF), a filing by the regulator showed on Friday. The SEC is seeking public comment on the Ark 21Shares Bitcoin ETF application, and has pushed back the decision date by several weeks to potentially months. In June, BlackRock (BLK.N), the world's biggest asset manager, also filed for a bitcoin ETF, a move that many viewed as a gamechanger for the industry. In 2021, Wood's ARK and crypto investment firm 21Shares US LLC had first teamed up to file an application for a spot bitcoin ETF with the regulator.

Persons: Andrew Kelly, Cathie Wood, Sam Bankman, Pritam Biswas, Shinjini Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, SEC, Ark Investment, Thomson Locations: Washington ,, BlackRock, Bengaluru

☆ Factbox: Financial firms line up spot bitcoin exchange-traded fund applications
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +4 min

Stock picker Cathy Wood's Ark Invest and Swiss-based exchange-traded fund (ETF) issuer 21Shares on Wednesday amended their bitcoin ETF application, while asset manager Fidelity is also expected to file a spot bitcoin ETF application, trade publication The Block reported on Tuesday. The U.S. Securities and Exchange Commission (SEC) has rejected dozens of applications for spot bitcoin ETFs, saying the proposals have not met anti-fraud and investor protection standards. These are the major firms with live SEC applications:BLACKROCK(BLK.N) - The world's biggest asset manager filed for a bitcoin ETF on June 15. INVESCO(IVZ.N) AND GALAXY DIGITAL - Invesco reactivated its September 2021 application to launch the Invesco Galaxy Bitcoin ETF on Cboe's BZX exchange. VANECK - VanEck refiled on June 22 to for approval to launch the VanEck Bitcoin Trust on Cboe's BZX exchange.

Persons: Cathy, 21Shares, BlackRock's, BNY, Cboe BZX, WisdomTree, refiled, John McCrank, Michelle Price, Daniel Wallis Organizations: U.S, Invest, Fidelity, U.S . Securities, Exchange Commission, SEC, BLACKROCK, Nasdaq, BNY Mellon, Ark, 21Shares, Company, U.S . Bank, National Association, Invesco, Galaxy, NYSE Arca, Valkyrie, Thomson Locations: BlackRock, Swiss

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