Ah, Springtime. It brings forth blooming daffodils, pesky allergies, and the rejuvenated efforts of 21Shares and Cathie Wood’s $ARKK Investment to launch a spot $BTC ETF for the third time. 🍀
With the ARK 21Shares Bitcoin ETF filing back in play, as revealed in a Bloomberg News interview with 21Shares CEO Hany Rashwan, the timing aligns with Bitcoin’s recent surge past $30,000 and a 67% YTD increase.
However, the journey has been far from smooth, as two prior attempts by 21Shares and Ark to register a spot Bitcoin ETF, along with numerous other applications, have been rejected by the SEC – who have made it clear crypto is the devil in their eyes.
Despite these setbacks, Rashwan remains optimistic, emphasizing that their proposed fund seeks to offer a safety net for US investors keen on exploring crypto products. 👍