ARK submitted its original application in April 2023.
This week, however, it has made significant amendments.
When the
world's largest fund manager, BlackRock, decided to apply for the creation of a
spot Bitcoin (BTC) exchange-traded fund (ETF) two weeks ago, nobody expected it
to trigger a new fever in the cryptocurrency market.
The BTC
price reached new highs for the year, and other Wall Street giants began to
join BlackRock. Among them were Invesco, WisdomTree, Fidelity, and ARK
Investment Management (ARK Invest), owned by popular investor Cathie Wood.
ARK Invest Updates its
Bitcoin ETF Application
Although
BlackRock sparked a wave of new applications to register a Bitcoin ETF, ARK
Invest was the first to submit such an application this year. Cathie Wood's
firm already filed an application in April to create an instrument that
tracks the price of 'physical' cryptocurrency.
As the
topic has become a hot item in the media and is elevating the prices of major digital assets,
ARK has decided to refresh its application. As can be seen from the amendment filed
with the Securities and Exchange Commission (SEC) yesterday (Wednesday), the
company made changes in its original application to make it similar to the one
filed by BlackRock.
The most
important updates include a contract to share oversight with the futures market
run by the Chicago Mercantile Exchange (CME) and a cryptocurrency exchange.
This is most likely going to be Coinbase.
The
decision on the cryptocurrency ETF from ARK Invest, which it applied for with
21Shares, is first in line with the SEC. According to the current schedule,
this should be decided by 13 August.
Bitcoin Prices Soar amid ETF Fever
At the time
of BlackRock's announcement about applying for the creation of a spot Bitcoin
ETF, one BTC cost less than $25,000. The cryptocurrency price was then testing at a three-month low.
Wall Street giants' interest in the market caused a dynamic increase in
the crypto price. It rose by over 26% in a week and tested the $31,000 level,
setting new highs for the year.
However,
the on-chain data suggest that the upward movements were not due to greater
network activity, but pure speculation and an influx of more cash into
regulated cryptocurrency instruments. Although a spot Bitcoin ETF is not yet
available, investors can take advantage of ETFs tracking the prices of BTC
futures contracts, options or futures themselves.
When the
world's largest fund manager, BlackRock, decided to apply for the creation of a
spot Bitcoin (BTC) exchange-traded fund (ETF) two weeks ago, nobody expected it
to trigger a new fever in the cryptocurrency market.
The BTC
price reached new highs for the year, and other Wall Street giants began to
join BlackRock. Among them were Invesco, WisdomTree, Fidelity, and ARK
Investment Management (ARK Invest), owned by popular investor Cathie Wood.
ARK Invest Updates its
Bitcoin ETF Application
Although
BlackRock sparked a wave of new applications to register a Bitcoin ETF, ARK
Invest was the first to submit such an application this year. Cathie Wood's
firm already filed an application in April to create an instrument that
tracks the price of 'physical' cryptocurrency.
As the
topic has become a hot item in the media and is elevating the prices of major digital assets,
ARK has decided to refresh its application. As can be seen from the amendment filed
with the Securities and Exchange Commission (SEC) yesterday (Wednesday), the
company made changes in its original application to make it similar to the one
filed by BlackRock.
The most
important updates include a contract to share oversight with the futures market
run by the Chicago Mercantile Exchange (CME) and a cryptocurrency exchange.
This is most likely going to be Coinbase.
The
decision on the cryptocurrency ETF from ARK Invest, which it applied for with
21Shares, is first in line with the SEC. According to the current schedule,
this should be decided by 13 August.
Bitcoin Prices Soar amid ETF Fever
At the time
of BlackRock's announcement about applying for the creation of a spot Bitcoin
ETF, one BTC cost less than $25,000. The cryptocurrency price was then testing at a three-month low.
Wall Street giants' interest in the market caused a dynamic increase in
the crypto price. It rose by over 26% in a week and tested the $31,000 level,
setting new highs for the year.
However,
the on-chain data suggest that the upward movements were not due to greater
network activity, but pure speculation and an influx of more cash into
regulated cryptocurrency instruments. Although a spot Bitcoin ETF is not yet
available, investors can take advantage of ETFs tracking the prices of BTC
futures contracts, options or futures themselves.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Paxos Appoints Former CFTC Chairman J. Christopher Giancarlo to Board
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa