SEC Seeks New Comments On Proposed ARK 21Shares Bitcoin ETF Rule Change

Key Points:

• The Securities and Exchange Commission is requesting written comments on the proposed listing and trading of shares of the ARK 21Shares Bitcoin ETF.
• Interested persons have 21 days to submit written data, views, and arguments regarding the proposed rule change.

The SEC seeks written comments on the listing and trading of shares of the ARK 21Shares Bitcoin ETF. The comments will help determine approval or disapproval.

The Securities and Exchange Commission has recently requested new written comments on a proposal for the listing and trading shares of the ARK 21Shares Bitcoin ETF. Cboe BZX Exchange, Inc. filed the proposed rule change under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares, and the shares will be registered with the Commission using the Trust’s registration statement on Form S-1.

The Commission has historically approved or disapproved exchange filings to list and trade series of Trust Issued Receipts, including spot-based Commodity-Based Trust Shares, based on whether the listing exchange has in place a comprehensive surveillance sharing agreement with a regulated market of significant size related to the underlying commodity to be held.

The Commission is now soliciting comments on the proposed rule change from interested persons, as modified by Amendment No. 3. The comments will help the Commission determine whether to approve or disapprove the proposed rule change.

The Commission has invited interested persons to submit written data, views, and arguments regarding whether the proposed rule change is consistent with Section 6(b)(5) or any other provision of the Act and the rules and regulations thereunder.

In 21 days, the Commission will decide whether to approve or disapprove the proposed rule change. The decision will have far-reaching implications for the cryptocurrency market, particularly for investors looking to invest in Bitcoin.

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