Spot Bitcoin ETF is a new toy in town. Everybody and their kids in crypto are talking about it. Investors want to see the spot ETD gone through with the acceptance from the SEC. This way market assumes that it would bring more crypto adoption and would move the market.
This also means that the Ark invest and many other asset management firms like say blackrock would be able to regularly move the crypto market and this would help traders and many other crypto investors to feel good about the bitcoin reaching the moon levels.
Every asset management firm that wants to list their SPOT ETF would be giving the listing to the SEC and then SEC has to either approve or deny the listing between the dealine times. And Ark invest has recently got their listing deadline shifted to the January 1st which is now closer for them.
Let's talk about the SPOT ETF and the Ark Invest deal with SEC.
Ark Invest Starts with Coinbase then Moves to Robinhood & SoFi
Ark invest bought into the market hype and got into the stocks of the coinbase and the GBTC. And that didnt worked out for them long enough and then later due to the pressure of the SEC on variety of places they had to sell the share. And they decided to do it anyways as they wanted to apply for the SPOT ETF listing.
You can check out the update on the Ark selling it's shares and buying soFi here
Now recently Ark invest has decided to get into the SoFI Technologies and the Robinhood. This has divercified their pool while they get the listing for the ETF and also dumped the GBTC in the due process. Though we can't say that would be in terms of the date but the January seems like a good direction for their upcoming approval and the listing in the funds.
Cointime Economics Metric Tool
Ark Invest and the glassnode started the Cointime Economics Metric tool. This is the tool that would be studying the bitcoin with variety of the market models and the valuations. This is a good collaboration they have done which would help in near future as this framework would come in handy to study bitcoin while handling the ETF funds.
Cointime's approach to study the coinblock on the bitcoin network would be helpful in variety of places and the models. As the market is moving more centralized for the bitcoin and a lot of investment management firms are betting on the bitcoin, we would get some value models applied to this existing framework from which more reports would come out inthe market.
Learn more about how the Cointime works here.
S1 Listing Form Deadline with SEC
Like I mentioned earlier SEC gives the deadline to each application made for the S1 form listing. And so there are some of the companies that are already getting the acceptance and the rejection, we are going to be seeing some good progress for the Ark Invest upcoming january if they get approved by the SEC.
Like this would also help the market as more fund management companies are getting their SPOT ETF deal. And which means there would be some movement of the bitcoin. This is what a lot of people who are invested into the bitcoin would like to see. So this is another milestone to check in the market.
You can check the progress of the ark invest on the ETF here.
Ark Invest is making a good progress on the front of the ETF listing and also they seem to be buying shares of variety of firms that deal in the crypto. It goes to show their willingness to invest their future into the blockchain techonologies. Let's see if they get the approval for the SPOT BTC ETF in January 2024.