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Ark Investment Management And 21Shares Will Cooperate To Issue A Bitcoin ETF

Mary Liu

Summary: Ark Investment Management, led by Cathie Wood, and 21Shares AG, an exchange-traded product (ETP) issuer based in Zug, filed a joint application with the U.S. Securities and Exchange Commission (SEC) to launch the Bitcoin exchange-traded fund---ARK 21Shares Bitcoin ETF. The document shows: "21Shares US LLC is the sponsor of the Trust, Delaware Trust Company is ...

Ark Investment Management, led by Cathie Wood, and 21Shares AG, an exchange-traded product (ETP) issuer based in Zug, filed a joint application with the U.S. Securities and Exchange Commission (SEC) to launch the Bitcoin exchange-traded fund---ARK 21Shares Bitcoin ETF.

The document shows: "21Shares US LLC is the sponsor of the Trust, Delaware Trust Company is the trustee of the Trust, and Coinbase Custody Trust Company, LLC is the custodian for the Trust, and will hold all of the Trust’s bitcoin on the Trust’s behalf. ARK Investment Management LLC provides assistance in the marketing of the Shares."

If approved, the ETF will be traded on the Cboe BZX exchange. As of now, the US SEC has not approved any Bitcoin ETF.

By Mary Liu

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