Cathie Wood's ARK Invest Joins the BTC ETF Race

ARK Invest, the investment management firm helmed by Cathie Wood, has filed for a BTC ETF.

The Ark21Shares ETF (exchange-traded fund) is the latest addition to a growing list of applications for a crypto ETF—something the crypto industry has yet to get past the Securities and Exchange Commission, though not for lack of trying.

The SEC is currently reviewing BTC ETF filings from Kryptoin, WisdomTree, Fidelity, VanEck, and Anthony Scaramucci’s Skybridge Capital; WisdomTree and VanEck have also filed for ETH ETFs.

Since ETFs trade on traditional stock exchanges (as opposed to the dedicated crypto exchanges that can be intimidating for newcomers), institutions like these see a BTC ETF as a way of onboarding hesitant investors.

ARK Invest’s proposed BTC ETF would trade on Cboe’s BZX Exchange.

Wood has made pro-BTC statements in the past. Under her aegis, ARK has invested in Coinbase and the Grayscale BTC Trust.

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