- The Cboe BZX Exchange officially amended its 19b-4 filing for the proposed ARK 21Shares Bitcoin ETF on Wednesday, bringing the filing more in line with the recent filing from BlackRock in an attempt to secure its approval.
The SEC rejected the previous applications on the grounds that they did not meet the rules of practice and Exchange Act requirements for listing a financial product. The list of firms that have made spot Bitcoin ETF filings over the past two weeks includes BlackRock, ARK, Fidelity, WisdomTree, Invesco and Valkyrie Funds.
Balchunas also highlighted one potential roadblock for some of the filers in the form of an exclusivity agreement between Coinbase and BlackRock. Seyffart also issued a warning to those assuming that the BlackRock ETF application would be approved because of the inclusion of an SSA. “We haven't seen the Surveillance Sharing Agreements . It's entirely plausible that the SEC could also deny based on what is actually written in those SSAs if it doesn't like the terms or amount of data being shared.”
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