ARK Invest and 21Shares amended their joint spot Bitcoin ETF application and submitted it to the U.S. SEC.
Analysts have noted how the latest filing addressed nearly all the concerns of the SEC.The latest application includes additional information on how the ETF would manage assets and determine asset values. It also details how assets for the fund are held in segregated wallet addresses on the Bitcoin blockchain. It also noted that ETF assets are “not commingled” with corporate or other customer assets.
He also referred to a section where the application underlined that certain valuation methods that the aforementioned ETF used were not in line with generally accepted accounting principles in the U.S. Ok here's one change, under NAV calcs the new prospectus has stuff on how the NAV calc is NOT in accordance with GAAP accounting. Good eye byBalchunas remarked that with this application, ARK Invest and 21Shares has put the ball back in the SEC’s court. It’s possible there will be a few “back and forths” between the applicants and the regulator over these details.
Scott Johnsson, General Partner and General Counsel at Van Buren Capital, was quick to respond to the above thread. He highlighted the mentions of risk factors affecting the fund in the amended application, viz., regarding illicit transactions, and negative environmental effects of crypto mining. I mean, you know it's probably the SEC when they make you put in two risk factors for illicit transactions and negative environmental effects of miningfor a joint spot BTC ETF in 2021. Since then, the SEC has time and again denied all of its applications.Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Avalanche makes silent moves in Q3 amidst ETF clamorAvalanche made headlines for the key partnerships forged and improvements in on-chain activity throughout Q3.
Read more »
Elite Wall Street Firms Are Surrendering to $7 Trillion ETF Boom - BNN BloombergGetting John Beatson to pick stocks for you used to require a cool $25 million or thereabouts. Thanks to the newest trend in money management, these days it’s more like $25.
Read more »
Asset managers boost ETF assets via active fund launches, conversionsExplore stories from Atlantic Canada.
Read more »
Asset managers boost ETF assets via active fund launches, conversionsLarge, established asset managers that have been slow to cash in on investor demand for exchange-traded funds are now trying to grab a slice of the market...
Read more »
US SEC shortens stock disclosure deadline to 5 daysThe U.S. Securities and Exchange Commission's changes mark an update to half-century-old regulations which officials said have not kept pace with changes in ...
Read more »
Activist Hedge Funds Get Less Time to Disclose 5%-Plus Stakes Under SEC Rule - BNN BloombergActivist hedge funds and other investors will have five days to disclose that they have taken on significant stakes in a company under final rules approved Tuesday by the Securities and Exchange Commission.
Read more »