ARK Invest kicks off Bitcoin ETF 'amendment-athon' ahead of deadline - Mon Wellness

ARK Invest kicks off Bitcoin ETF ‘amendment-athon’ ahead of deadline

ARK Invest and 21Shares were the first to hand in their spot Bitcoin ETF filing update

ahead of the Dec. 29 deadline set by the SEC.

ARK Invest has become the first to file its final S-1 amendment for its proposed spot Bitcoin ETF

ahead of a reported SEC-imposed deadline — which is being understood as a requirement to

be considered in the first wave of approvals in January.

According to an earlier report, officials from the Securities and Exchange Commission met with

representatives of at least seven firms on Dec. 21, setting a deadline for applicants to file their final S-1 amendments by Dec. 29.

Regulators reportedly told attendees at the meetings that any issuer that doesn’t meet the

deadline will not be part of a first wave of potential spot Bitcoin ETF approvals in early January.

According to an SEC filing, ARK Invest filed an amendment to the S-1 registration statement for

their Ark 21Shares Bitcoin ETF (ARKB) late on Dec. 28.

Bloomberg ETF analyst Eric Balchunas said that the amendment was centered around authorized participants.

On Dec. 19, Ark revised its application with a change to cash creations and redemptions for

shares in the fund. This was in line with other issuers who had to “bend the knee” to cash creations.

Fellow Bloomberg ETF analyst James Seyffart said earlier that he was surprised not to

have seen any amended Bitcoin ETF filings yet. Balchunas commented that many may wait until the last

minute because they don’t want to show their competitors the amendments.

More than a dozen firms are vying for an approved spot Bitcoin ETF,

so it is expected that more amended S-1 filings will be submitted over the coming day.

Remarking on the flurry of activity leading up to the anticipated

launch of spot Bitcoin ETFs in January, ETF Store President Nate Geraci said:

“I love the fact that this saga is forcing more TradFi investors to learn about crypto and

more crypto investors to learn about ETF wrapper. That is “The Bridge”. Crypto isn’t going away.”

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