The U.S. SEC approval for a Bitcoin ETF has become a tantalizing reality
The race for the coveted approval of a spot Bitcoin exchange-traded funds by the U.S. Securities and Exchange Commission is heating up. Jake Chervinsky, chief policy officer at Blockchain Association,by Eric Balchunas, ARK Investment Management has made significant updates to its spot Bitcoin ETF prospectus. The SEC, a few weeks prior, had shared feedback with various issuers about their S-1 filings, prompting revisions.
Notably, the updated prospectus highlights that the NAV calculation doesn't comply with the Generally Accepted Accounting Principles . Furthermore, ARK has clarified that the Trust's assets with their Custodian are stored in segregatedThese revisions are seen as a positive step toward SEC approval, Balchunas emphasized that there might be further discussions required with the SEC on these intricate details.
However, caution remains as the SEC still holds the power to delay its decision, especially given the recent nature of Grayscale's legal victory.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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