Cathie Wood’s ARK Invest has submitted an updated filing for its spot bitcoin exchange-traded fund (ETF), disregarding recent guidance from the Securities and Exchange Commission (SEC). The SEC had recommended that ETF proposals switch to cash creations instead of in-kind creations. However, ARK appears to be sticking with in-kind creations and redemptions, despite concerns about potential manipulation and fraud. This decision may be driven by the tax advantages that in-kind ETFs provide investors, such as deferring capital gains and reducing taxable distributions. ARK’s filing also disclosed an expense ratio of 0.80%, making it the first issuer to reveal proposed fees for a bitcoin ETF.

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Information	Details
Geography	Global
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Eric Balchunas
Companies	Securities and Exchange Commission (SEC), Division of Trading and Markets, Bloomberg, ARK Invest
Currencies	Bitcoin
Securities	None