{"id":197096,"date":"2023-11-20T20:42:05","date_gmt":"2023-11-20T15:12:05","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=197096"},"modified":"2023-11-20T20:42:05","modified_gmt":"2023-11-20T15:12:05","slug":"bitcoin-etf-application-from-ark-invest-has-been-amended-again-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-etf-application-from-ark-invest-has-been-amended-again-crypto-news\/","title":{"rendered":"Bitcoin ETF application from Ark Invest has been amended again – Crypto News"},"content":{"rendered":"

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In a surprising move, Cathie Wood\u2019s Ark Invest has made its third amendment to the Bitcoin ETF filing<\/a><\/span>, bringing about significant improvements that have piqued the financial community\u2019s interest.\u00a0<\/span><\/p>\n

Details of Ark Invest\u2019s 3rd Amendment<\/strong><\/h2>\n

Bloomberg\u2019s ETF expert, Eric Balchunas, revealed the startling news, describing it as a positive step forward in the Securities and Exchange Commission (SEC) clearance process.<\/span><\/p>\n

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One notable aspect that caught the attention of analysts and investors alike was the disclosure of a fee for the proposed ETF. Balchunas revealed that ARKB would charge 80 basis points (bps), marking Ark Invest as the first issuer to disclose such a fee. This move is significant as it adds a layer of transparency to the investment product, aligning with the growing demand for clear and explicit fee structures in the ETF space.<\/span><\/p>\n

Digging into the details of the amendment, Balchunas highlighted several updates, focusing on new risk disclosures. He suggested that these additions were likely to address specific concerns raised by the SEC\u2019s Division of Corporation Finance (Corp Fin).\u00a0<\/span><\/p>\n

Intriguingly, the filing maintains a commitment to in-kind creations and redemptions, albeit in a hybrid model. This decision is a strategic move to minimize tax implications and address potential spread issues.\u00a0<\/span><\/p>\n

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Balchunas explained, \u201cSome are coming at me with how I must have \u2018heard wrong\u2019 re SEC advising issuers to do cash creations. I heard correctly, but some issuers are going to try and push back and \u2018sell\u2019 the SEC on in-kind given the obvious benefits for investors. We\u2019ll see how this plays out.\u201d<\/span><\/p>\n

SEC Delays and Impact on Spot Bitcoin ETF Approvals<\/strong><\/h2>\n

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In an earlier <\/span>report<\/span>, Bloomberg\u2019s James Seyffart shared insights<\/a> into the SEC\u2019s decision to delay approvals for spot Bitcoin ETFs, citing comments by the SEC\u2019s Trading and Markets division. He explained that the delays are not unexpected and are generally considered a positive sign, indicating thorough consideration by the regulatory body.\u00a0<\/span><\/p>\n

The SEC\u2019s request for cash creates could potentially impact broker-dealers, but Balchunas expressed optimism about the overall efficiency of this approach.<\/span><\/p>\n

The delay in decisions on spot Bitcoin ETFs, including those from Franklin Templeton and Global X, raises speculation within the crypto space. Seyffart suggested that the comment period initiated by the SEC would likely last at least 35 days, pushing the timeline for a final decision further into the future.<\/span><\/p>\n

In all, the odds of a spot Bitcoin ETF approval<\/a> <\/span>presented by the Bloomberg analysts remain at 90%.<\/span><\/p>\n

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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In a surprising move, Cathie Wood\u2019s Ark Invest has made its third amendment to the Bitcoin ETF filing, bringing about significant improvements that have piqued the financial community\u2019s interest.\u00a0 Details of Ark Invest\u2019s 3rd Amendment Bloomberg\u2019s ETF expert, Eric Balchunas, revealed the startling news, describing it as a positive step forward in the Securities and […]<\/p>\n","protected":false},"author":2,"featured_media":197097,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-197096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/197096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=197096"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/197096\/revisions"}],"predecessor-version":[{"id":197099,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/197096\/revisions\/197099"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/197097"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=197096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=197096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=197096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}