ARK Amends Spot Bitcoin ETF Filing to Include Surveillance Sharing, Similar to BlackRock

June 28, 2023
The Last Cryptocurency
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Cathie Wood’s ARK Invest has amended its filing for a spot bitcoin (BTC) exchange-traded fund (ETF) to include a surveillance-sharing agreement, similar to that of BlackRock (BLK).

The agreement would be between the Cboe BZX Exchange, on which the ETF would be listed, and a U.S.-based spot BTC trading platform, according to ARK’s amended 19b-4 filing.

Surveillance-sharing agreements involve the sharing of information about market trading activity, clearing activity and customer identification to protect against the possibility of market manipulation.

The inclusion of the agreement in BlackRock’s application was seen as a potential breakthrough for the listing of a spot bitcoin ETF in the U.S., dozens of applications for which the SEC has rejected.

ARK’s application may now be in pole position to be approved first as as it was filed earlier than BlackRock’s, noted Bloomberg ETF analyst Eric Balchunas.

Cumberland DRW, a major digital asset trader and liquidity provider, said on Monday that the New York State Department of Financial Services (NYDFS) granted its New York-based entity a virtual currency license called BitLicense."We are pleased that the New York State Department of Financial Services has granted Cumberland New York a BitLicense," the company's official

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