ARK Files Third Bitcoin ETF Amendment Amid SEC Talks

The third amendment to the prospectus for the spot Bitcoin ETF reveals a modest fee increase from 70 to 80 basis points.

Written By:
Ronak Kumar

Last updated: November 20, 2023 3:27 PM

Published 2023-11-20

Last updated: November 20, 2023 3:27 PM

Published 2023-11-20

An American investment management firm, ARK Investment, has filed another updated prospectus for their potential Bitcoin exchange-traded fund (ETF), indicating ongoing discussions with the Securities and Exchange Commission (SEC).

Update: @ARKInvest just filed another amended prospectus for their spot #bitcoin ETF. Likely means things are likely still moving with SEC conversations. pic.twitter.com/Of2S1pONDc
— James Seyffart (@JSeyff) November 20, 2023

The spot Bitcoin ETF’s third amendment discloses a slight fee increase from 70 to 80 bps, hinting at slightly higher expected expense ratios. Upon approval, the ARK 21Shares Bitcoin ETF will trade on the Chicago Board Options Exchange (CBOE) BZX Exchange as ARKB.

The frequent updates to the S-1 document suggest that ARK is actively refining the details for SEC approval, a positive sign for the progress of the Bitcoin ETF.

In an October 11 filing, additional details were provided regarding the custody of assets and determining asset values for the proposed spot Bitcoin ETF.

The continuous updates reflect ARK’s commitment to meeting regulatory requirements and improving the chances of securing SEC approval for the Bitcoin ETF.

Also Read: Ark Investment Teams up with 21 Shares for Bitcoin Futures ETF

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