21Shares and Ark Invest's Commitment to a Spot Bitcoin ETF in the United States
Edit: CBOE filed an updated amendment to our ARK 21Shares Bitcoin ETF filing on June 30, 2023. The updated amendment can be found here.
This past April, 21Shares refiled for the ARK 21Shares Bitcoin ETF – a spot Bitcoin ETF in partnership with ARK Invest – as part of our commitment to the US market and to advancing a regulated spot crypto product.
Over the past few weeks, since our filing, we have seen a flurry of additional applicants for spot bitcoin ETFs in the US. This is validating: there is a clear need for an accessible way for U.S. investors to gain exposure to the asset class and spot bitcoin ETFs remain one of the safest and most reliable ways to invest in bitcoin - period.
As we have seen spot bitcoin ETFs capture the attention of incumbents, we remain as committed as ever to bringing our ARK 21Shares Bitcoin ETF to US investors. 21Shares is positioned to be first to market – and to further strengthen our application, we have filed, in coordination with CBOE BZX Exchange (CBOE), an amended 19b-4, which informs the SEC that CBOE expects to enter into a surveillance-sharing agreement (SSA) with an operator of a US-based spot trading platform for bitcoin. This amended filing further demonstrates 21Shares’ commitment to the US market and a regulated spot bitcoin ETF, as well as the fact that the spot bitcoin market is sufficiently mature and compliant so as to justify approval for registration and listing as an ETF.
“Bitcoin has proven its value as an investable asset and disruptive technology, amidst the current markets and regulatory headwinds. This affirms the need for a spot bitcoin ETF in the US. Since 2018, 21Shares has entered markets that promote responsible, clear, and reasonable regulation and we are optimistic about being first in line to do so via a spot bitcoin ETF in the US.” – Hany Rashwan, CEO & Co-Founder, 21Shares.
"Since 2015, with increasing conviction, ARK has researched the crypto space and has invested in crypto related equities. On April 25, 2023, in partnership with 21Shares, we filed for the ARK 21Shares Bitcoin ETF and are proud to have the oldest active filing before the SEC and expect to be first in line to be considered for approval. We believe bitcoin’s long-term opportunity as a “risk-off” asset and a “flight to safety” for investors during periods when macroeconomic uncertainty is strengthening. In our view, the approval of a Bitcoin ETF is important and would be a significant turning point in bitcoin’s path to institutional adoption.” – Cathie Wood, Founder, Chief Executive Officer, and Chief Investment Officer, ARK Invest.