A recent amendment to the joint spot Bitcoin exchange-traded fund (ETF) application by ARK Invest and 21Shares is seen as a positive sign of progress and potential approval. The amendment includes additional information about the proposed ETF, addressing concerns raised by the Securities and Exchange Commission (SEC). Bloomberg senior ETF analyst Eric Balchunas believes that the changes indicate that ARK has addressed the SEC’s comments and is now awaiting their response. Balchunas sees this as a good sign and solid progress. The amended filing includes changes related to the fund’s custody of assets and determination of asset values. It also clarifies that the ETF’s assets are held in segregated accounts on the Bitcoin blockchain, separate from corporate or customer assets. Another change in the filing acknowledges the potential impact on the ETF’s value if Bitcoin is increasingly used for illegal purposes or if Bitcoin mining’s environmental impact leads to restrictions. Overall, analysts believe that these amendments demonstrate effective communication between ARK and the SEC and increase the likelihood of future approval.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	0
People	James Seyffart, Scott Johnsson, Eric Balchunas
Companies	Bloomberg, Securities and Exchange Commission (SEC), Coinbase Custody, 21Shares, Van Buren Capital, ARK Invest
Currencies	Bitcoin
Securities	None