Cathie Wood’s ARK Invest Enters Bitcoin ETF Race

Cathie Wood’s ARK Investment Management has joined the race to get a bitcoin exchange-traded fund (ETF) approved by the U.S. Securities and Exchange Commission.

  • According to SEC filings, the noted tech investor is partnering with investment product firm 21Shares in submitting a bitcoin ETF application.
  • The “ARK 21Shares Bitcoin ETF” would tap 21Shares’ expertise in spinning up crypto exchange-traded products (ETPs), mostly in Europe.
  • ARK and 21Shares join the swelling ranks of companies hoping this will be the year the SEC approves a bitcoin ETF.
  • The SEC has swatted down dozens of bitcoin ETF proposals in recent years.
  • Wood joined the board of Amun Holdings, the parent company of 21Shares, in May.
Read more: SEC Again Delays VanEck Bitcoin ETF Decision