{"id":425179,"date":"2022-04-02T00:00:00","date_gmt":"2022-04-01T21:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sec-rejects-ark-21shares-spot-bitcoin-etf-application\/"},"modified":"2022-04-02T00:00:00","modified_gmt":"2022-04-01T21:00:00","slug":"sec-rejects-ark-21shares-spot-bitcoin-etf-application","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sec-rejects-ark-21shares-spot-bitcoin-etf-application\/","title":{"rendered":"# SEC rejects ARK 21Shares spot Bitcoin ETF application"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2cf15e25861\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2cf15e25861\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/sec-rejects-ark-21shares-spot-bitcoin-etf-application\/#%E2%80%9D_SEC_rejects_ARK_21Shares_spot_Bitcoin_ETF_application_%E2%80%9C\" >&#8221; SEC rejects ARK 21Shares spot Bitcoin ETF application &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_SEC_rejects_ARK_21Shares_spot_Bitcoin_ETF_application_%E2%80%9C\"><\/span>&#8221; SEC rejects ARK 21Shares spot Bitcoin ETF application &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvYzZmZDcwN2QtZDI0ZC00MDljLTg2M2ItZjYzYTRjYmMyMDE0LmpwZWc=.jpeg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The United States Securities and Exchange Commission, or SEC, has officially dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved the application for the ARK 21Shares Bitcoin exchange-traded fund (ETF).<\/p>\n<p>In a Thursday filing, the SEC <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/rules\/sro\/cboebzx\/2022\/34-94571.pdf\">rejected<\/a> a proposed rule change from the Chicago Board Options Exchange, or Cboe, BZX Exchange to list and trade shares of the ARK 21Shares Bitcoin (BTC) ETF. The SEC said the proposed rule change, originally published for comment in the Federal Register in August 2021, would not be \u201c\u2018designed to prevent fraudulent and manipulative acts and practices\u201d nor \u201cprotect investors and the public interest.\u201d<\/p>\n<p>The SEC said that the Cboe BZX Exchange had not met the requirements of listing a financial product under its rules of practice as well as those of the Exchange Act. Under these restrictions, exchanges seeking to list a Bitcoin ETF need to have \u201ca comprehensive surveillance-sharing agreement with a regulated market of significant size related to the underlying or reference Bitcoin assets.\u201d<\/p>\n<p>21Shares, a Europe-based exchange-traded product issuer, submitted the spot Bitcoin ETF application with Ark Investment Management in June 2021 for listing on the Cboe BZX Exchange under the ticker ARKB. The SEC had 180 days to reach a decision or open the offering to public comment. In January 2022, the regulatory body extended its deliberation window to April.<\/p>\n<p>To date, the SEC has not approved any spot crypto ETF application for listing shares in the United States but has given the green light to investment vehicles linked to BTC futures, including offerings from ProShares, VanEck and Valkyrie. As of October 2021, 21Shares <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/21shares.com\/research\/two-billion-aum-threshold\/\">was<\/a> one of the largest institutional crypto product issuers, with more than $2 billion in assets under management reported.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>SEC could approve spot Bitcoin ETFs as early as 2023<\/em><\/strong><\/p>\n<p>Grayscale, one of the next asset managers likely to hear a decision from the regulatory body on its spot Bitcoin ETF, launched a campaign in February aimed at encouraging U.S. investors to submit comments to the SEC. The regulator is expected to reach a decision on Grayscale converting its Bitcoin Trust into a spot BTC ETF by July 6.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/sec-rejects-ark-21shares-spot-bitcoin-etf-application\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; SEC rejects ARK 21Shares spot Bitcoin ETF application &#8220; The United States Securities and Exchange Commission, or SEC, has officially disapproved the application for the ARK 21Shares Bitcoin exchange-traded fund (ETF). In a Thursday filing, the SEC rejected a proposed rule change from the Chicago Board Options Exchange, or Cboe, BZX Exchange to list&#8230;<\/p>\n","protected":false},"author":1,"featured_media":425180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvYzZmZDcwN2QtZDI0ZC00MDljLTg2M2ItZjYzYTRjYmMyMDE0LmpwZWc=.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[93835,74862,75849,74898,73711,70934,67874],"class_list":["post-425179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ark","tag-bitcoin","tag-etf","tag-sec","tag-investments","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/425179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=425179"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/425179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/425180"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=425179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=425179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=425179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}