Home Industrial ARK Invest Joins the Race to Launch Bitcoin ETF with Surveillance Agreement

ARK Invest Joins the Race to Launch Bitcoin ETF with Surveillance Agreement

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ARK-Invest-Joins-the-Race-to-Launch-Bitcoin-ETF-with-Surveillance-Agreement-Crypto-Insiders-Hong-Kong-Blockchain-News

Introduction

The race to launch the first Bitcoin ETF in the United States is heating up as ARK Invest, a New York-based investment firm, has added a surveillance agreement to their application to launch a Bitcoin ETF. The company’s move intensifies the competition between firms that are vying to launch the first Bitcoin ETF in the US.

ARK Invest’s Key Move

ARK Invest’s move to add a surveillance agreement to their ETF application is significant because it could address regulators’ concerns about market manipulation and other illegal activities that could occur in the cryptocurrency market. The agreement would allow the ETF to monitor and prevent fraudulent activities, which could increase the Securities and Exchange Commission’s (SEC) confidence in approving the ETF.

The Competition

ARK Invest is not alone in the race to launch a Bitcoin ETF. Other financial institutions, including Fidelity, VanEck, and WisdomTree, have also filed applications with the SEC. However, none of these firms have added a surveillance agreement to their applications, giving ARK Invest a potential advantage.

Potential Impact

If ARK Invest’s application is approved, it would be a significant milestone for the cryptocurrency industry. The approval of a Bitcoin ETF could make it easier for investors to gain exposure to the cryptocurrency market, potentially driving up demand and prices. Additionally, it could help legitimize the cryptocurrency industry and pave the way for more institutional investors to enter the space.

Related:Blockchain Australia New CEO Takes Aim at Regulation by Enforcement in United States

Conclusion

The addition of a surveillance agreement to ARK Invest’s Bitcoin ETF application is a significant move that could give the firm an advantage in the race to launch the first Bitcoin ETF in the US. If approved, the ETF could help legitimize the cryptocurrency industry and make it easier for investors to gain exposure to the market. As the competition heats up, it remains to be seen which firm will be the first to launch a Bitcoin ETF in the US.

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