ARK Invest has applied for a bitcoin ETF!
ARK Invest, an investment firm headed by Cathie Wood, has applied for a bitcoin ETF.
Photo Credits: Unsplash
The Ark21Shares ETF is the latest addition to the growing list of requirements for the bitcoin ETF. The crypto industry expects to be approved this year but has yet to pass the approval of the Securities and Exchange Commission.
The SEC is currently reviewing the bitcoin ETF applications of Kryptoin, WisdomTree, Fidelity, VanEck, and Skybridge Capital’s Anthony Scaramucci. WisdomTree and VanEck have also applied for ethereum ETFs.
Because ETFs trade on traditional stock exchanges, these institutions see the bitcoin ETF as a way to attract indecisive institutional investors.
ARK Invest’s proposed bitcoin ETF would trade on the Cboe BZX stock exchange.
Wood has made very positive statements about bitcoin in the past, and on several occasions has predicted that bitcoin could reach $ 500,000. Under its leadership, ARK has invested in Coinbase and the Grayscale Bitcoin Trust.
By: Olivia J. - Gossip Whispers