With its latest filing update, asset management firm ARK Investment Management has gained an edge in the race for the first Bitcoin Spot exchange-traded fund (ETF) in the United States.
The firm has amended its 19b-4 application filing for spot Bitcoin ETF to include a surveillance sharing agreement with the Chicago Board Options Exchange (CBOE) and a crypto exchange, likely Coinbase, according to Bloomberg’s ETF analyst Eric Balchunas.
The new agreement puts ARK’s filing similar to BlackRock’s recent filing. It is more likely to be approved since they filed first in collaboration with the institutional investment firm 21Shares.
Who Will Win The Bitcoin ETF Race?
The Securities and Exchange Commission (SEC) has previously cited concerns about the lack of surveillance and regulatory oversight to reject previous Bitcoin ETF applications in the cryptocurrency market.
However, the agreement allows ARK to share surveillance information with the Chicago Mercantil Exchange (CME) futur
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