Cryptocurrency ETP provider 21Shares and asset manager ARK Invest have filed a new application to launch an exchange-traded fund (ETF) based on BTC that takes into consideration the latest SEC comments so that the regulator considers its acceptance.
On July 9 there should be a decision or extension of the term for consideration of the application.
The regulator has not yet approved any application to launch a spot Bitcoin ETF.
The SEC has previously cited non-compliance with requirements to curb fraudulent or manipulative practices and protect investors to reject previous applications.
The regulator has also pointed to the lack of a market of sufficient size for the underlying asset.