Cathie Wood’s Ark Invest Files Petition With SEC to Create Bitcoin ETF

Despite the latest onslaught of scrutiny facing bitcoin across a number of countries, long-time bitcoin bull Cathie Wood appears to firmly hold her conviction that the cryptocurrency has a robust prospect, and as a result has filed for a bitcoin ETF.

According to a filing received by the SEC on Monday, Wood’s ARK Invest is petitioning to create a bitcoin ETF alongside European crypto issuer 21Shares, and if approved, would trade under the ticker symbol ARKB. Wood’s latest application marks the twelfth time the SEC has received a filing seeking permission to launch a bitcoin ETF.

Thus far, the SEC has remained relatively mum on cryptocurrencies, even postponing a decision to approve the first ever US bitcoin ETF last week. SEC Chairman Gary Gensler, who previously taught courses on digital assets at MIT, has recently called on increased regulation surrounding cryptocurrencies exchanges as well as more investor protections. However, according to a previous CNBC interview, Wood said that the regulator may turn tepid on cryptocurrencies, particularly alongside the leadership of the Biden administration.

Over the past several weeks, bitcoin has faced increased scrutiny by regulators and investors alike. The digital token came crashing from its all-time high of $63,000 in April, after several regions in China imposed stringent crypto regulations, while Tesla CEO Elon Musk decided to cease accepting bitcoin as payment for electric vehicles.


Information for this briefing was found via the SEC and CNBC. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

Nord Precious Metals Identifies 29 Veins At Castle East Following 3D Modeling

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

Related News

DigiMax Reports Early Results Of Crypto Price Trend Predictor Tool

DigiMax Global (CSE: DIGI) this morning provided an update in relation to its crypto-related assets....

Monday, June 28, 2021, 08:35:28 AM

Spot Bitcoin ETFs’ Market Impact Remains Limited Despite Strong Initial Inflows

In the first two days of trading for the SEC-approved spot bitcoin exchange-traded funds (ETFs),...

Monday, January 15, 2024, 03:28:00 PM

MicroStrategy Dropped From S&P Small Cap 600 Index

It appears that not everyone on the institutional side of capital markets is in love...

Sunday, September 5, 2021, 09:00:00 AM

Cathie Wood Dumps Nearly $140 Million in Tesla Amid Recent Rally

Cathie Wood has liquidated some of her fund’s Tesla stock, as a recent rally in...

Saturday, September 11, 2021, 05:38:00 PM

Bitcoin Hits New Record-High After First US ETF Prompts Renewed Sentiment

The price of bitcoin soared to a new record on Wednesday, after the first US...

Thursday, October 21, 2021, 04:32:00 PM