{"id":4711,"date":"2021-06-29T16:59:13","date_gmt":"2021-06-29T15:59:13","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=4711"},"modified":"2021-06-29T16:59:16","modified_gmt":"2021-06-29T15:59:16","slug":"ark-invest-partners-with-21shares-to-market-new-etf","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ark-invest-partners-with-21shares-to-market-new-etf\/","title":{"rendered":"ARK Invest partners with 21Shares to market new ETF"},"content":{"rendered":"\n
CEO of \u2019s Ark Invest Cathie Wood, yesterday filed for a bitcoin<\/a> exchange-traded fund (ETF) alongside Swiss-based 21Shares for a proposed Exchange-traded fund (ETF)<\/h5>\n\n\n\n
\"ARK<\/figure>\n\n\n\n

ARK Invest has teamed up with 21Shares to submit a joint application to the Securities and Exchange Commission (SEC) for approval of a proposed Exchange-traded fund.<\/p>\n\n\n\n

The token would be listed on the Chicago Board Options Exchange\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> BZX if approved, according to the Monday filing, which is comparable to the rest of the ETF proposals that the SEC has yet to decide on.<\/p>\n\n\n\n

The planned ETF, dubbed ARK 21Shares Bitcoin ETF, will be principally sponsored by 21 Shares, with ARK Invest assisting in the marketing of shares.<\/p>\n\n\n\n

The plan is to use the S&P Dow Jones Indices Bitcoin index to determine the daily value of shares and so provide bitcoin exposure.<\/p>\n\n\n\n

Coinbase would be the official custodian for the ETF's digital coin, according to the S-1 form requesting registration of securities through which the application was lodged.<\/p>\n\n\n\n

BNY Mellon would also provide administrative and financial services in addition to facilitating the issuing and redemption of shares.<\/p>\n\n\n\n

Cathie Woods, the founder and CEO of ARK Invest, continues to expand the company's influence in the crypto market, the firm also owns $250 million worth of shares in the Grayscale Bitcoin Trust.<\/p>\n\n\n\n

Woods is not only a powerful investor in the crypto industry, but he is also a big proponent of bitcoin, predicting not long ago that the cryptocurrency<\/a> would overcome its recent collapse and surpass $500,000 at some time.<\/p>\n\n\n\n

21Shares, where Cathie Woods is a board member, has over $1 billion in crypto assets under control, according to CoinShares.<\/p>\n\n\n\n

ETF expert Eric Balchunas believes that if the proposed ETF is approved, 21 Shares would be able to quickly integrate into the American crypto space.<\/p>\n\n\n\n

The combined application will be closely monitored as it joins the ranks of other ETF<\/a> applications that the SEC has rejected or for which it has requested a longer period of review.<\/p>\n\n\n\n

The SEC postponed a decision on VanEck's proposed ETF again again in mid-month. In response to the delay, CEO Jan van Eck stated that investors want rapid clearance and that the demand for ETFs will ensure that approval is granted as soon as possible.<\/p>\n\n\n\n

Last Monday, the SEC also announced that Valkyrie would be given another extension and would have to wait another 45 days for a ruling from the SEC.<\/p>\n\n\n\n

The SEC's approach toward digital assets<\/a> has been hostile, and the situation is made more complicated by the fact that Gary Gensler, the current chair, is widely seen to be pro-crypto.<\/p>\n","protected":false},"excerpt":{"rendered":"

CEO of \u2019s Ark Invest Cathie Wood, yesterday filed for a bitcoin exchange-traded fund (ETF) alongside Swiss-based 21Shares for a proposed Exchange-traded fund (ETF) ARK Invest has teamed up with 21Shares to submit a joint application to the Securities and Exchange Commission (SEC) for approval of a proposed Exchange-traded fund. The token would be listed […]<\/p>\n","protected":false},"author":12,"featured_media":4712,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[892,948,940,231],"class_list":["post-4711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-21shares","tag-ark-invest","tag-etf","tag-market"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/06\/ARK-Invest-partners-with-21Shares-to-market-new-ETF.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=4711"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4711\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/4712"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=4711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=4711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=4711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}