Select Page

Ark Invest Lending Name to Swiss Bitcoin ETF

Ark Invest Lending Name to Swiss Bitcoin ETF
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

Cathie Wood’s Ark Investment Management is lending its name to the ARK 21Shares Bitcoin exchange-traded fund (ETF).

21Shares US LLC, an affiliate of Zug, Switzerland-based 21Shares AG, is sponsoring the proposed ETF, with Ark providing marketing assistance. Trading under ARKB, the ETF will track the performance of bitcoin as measured by the S&P Bitcoin Index. 

ETF analyst for Bloomberg Intelligence Eric Balchunas said this made sense, because Wood is on the board of 21Shares. “This gives 21Shares penetration in the U.S. and it’s on-brand for Ark given how vocal and bullish they’ve been on crypto,” he said.

Bitcoin ETPs

Earlier this month, 21Shares become one of the first firms to list a crypto-based exchange-traded product (ETP) on a U.K. exchange. 21Shares launched its Bitcoin ETP on the UK’s Aquis Exchange. Engineered like an exchange-traded fund, the ETP will be centrally cleared.

This came a week after ETC Group launched its own bitcoin ETP on the Aquis Exchange. However, it did this only after being denied listing on the London Stock Exchange, because its clearinghouse didn’t accept crypto products.

Bitcoin ETFs in the US

Yet, as much difficulty as ETPs are having being listed in Britain, they are still further along than in the U.S. This new 21Shares ETF adds to the growing list of applicants to the Securities and Exchange Commission (SEC). So far, at least 14 issuers have filed for a Bitcoin or futures ETF. This includes the likes of Fidelity Investments, Grayscale Investments, and WisdomTree Investments. However, the SEC has yet to approve a single one.

In April, the SEC was expected to make a decision regarding VanEck’s bitcoin ETF application. However, after delaying the decision until June, the SEC recently declared requiring another extension until at least July. The SEC also said it would seek public comments on the proposal to list the product prepared by Cboe Global Markets.

Craig Sal, vice-president of legal at Grayscale, a bitcoin trust provider, has his own thoughts about SEC Chair Gary Gensler’s current approach. He believes Gensler is approaching the TF approval process as a means of gaining more oversight over crypto exchanges. “Gensler wants to see regulation there, and if that happens, it seems like that would be what the SEC needs in order to approve a bitcoin ETF,” he said

The post Ark Invest Lending Name to Swiss Bitcoin ETF appeared first on BeInCrypto.

 

Source: BeInCrypto

 

All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for the android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.es here

Categories

Select a Sub Category
category
6151f4b0e42fa
0
1
Loading....

Reviews

All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber