Investment company Katie Wood has sent a corresponding document to the US Securities and Exchange Commission (SEC)
Ark Invest, founded by Katie Wood , has submitted an application to the US Securities and Exchange Commission (SEC) to create a Bitcoin ETF .
The investment goal of an exchange traded fund (ETF) is to track the bitcoin market. The document was drawn up jointly with the Swiss company 21Shares AG. Wood sits on the board of directors of Amun Holdings, which owns 21Shares AG.
If approved by the SEC, the ARK 21SHARES BITCOIN ETF (ARKB) will be traded on the BZX platform of the Chicago Board Options Exchange (Cboe).
The fund will track the bitcoin rate using the S&P Dow Jones Indices LLC index, which is based on data from the largest cryptocurrency exchanges.
Bitcoin ETF will be sponsored by 21Shares US, administrator will be Delaware Trust Company, Coinbase will store assets, and Ark Invest will promote the tool.
In the past, the SEC has not approved a single proposal to launch a Bitcoin ETF. The Commission is currently considering several proposals, but it continues to postpone the decision.
Ark Investment Management invested in bitcoin on June 22, when the value of the cryptocurrency dropped to $ 28.8 thousand at the moment.
The investment company bought over 1 million shares of Grayscale Bitcoin Trust. They were included in the Next Generation Internet ETF managed by Ark Invest.
The Grayscale Bitcoin Trust functions similarly to an ETF, but is not registered with the US Securities and Exchange Commission (SEC), so only accredited investors have access to it.
