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Cathie Wood’s ARK Investment Management and Switzerland-based investment-products issuer 21Shares are taking another shot at getting their spot Bitcoin (BTC) exchange-traded fund (ETF) approved by the U.S. Securities and Exchange Commission.
ARK 21Shares Bitcoin ETF was rejected by the SEC in April, citing a lack of investor protections.
Earlier this month, on May 13, the investment manager filed via Cboe BZX Exchange to which the SEC responded that it is soliciting comments with respect to the filing.
While Bitcoin futures are a reality, the SEC is putting off the approval of any spot Bitcoin ETFs in the US. Most applications have been rejected after numerous delays.
Cboe made it clear in the filing that it “represents a regulated market of significant size” and that its latest bid should be approved.
Two months ago, Grayscale CEO Michael Sonnenshein said that his firm is preparing for legal battle in the event that Grayscale’s Bitcoin Spot ETF will be denied by the regulator.