Ark Invest filed for a bitcoin ETF. The news broke yesterday.
Ark Invest Co-founder Cathie Wood is very well-known for being a bitcoin fan. Her long-term bitcoin price target: $500000! So, the Ark Invest Co-founder is definitely bullish on bitcoin. During the recent crash, Ark Invest purchased more than one million shares of the Grayscale Bitcoin Trust.
Now Ark Invest filed for a bitcoin ETF!
If the SEC approves Ark Invest’s application is yet to see. Currently, many firms applied for launching a bitcoin ETF:
- Kryptoin
- WisdomTree
- Fidelity
- VanEck
- Skybridge Capital
However, the SEC has postponed its decision several times already!
Why you should be excited about Ark Invest’s application
The pressure on the SEC grows. More and more firms want to launch a bitcoin ETF. Now, also Ark Invest. So, there is clear market demand for a bitcoin ETF.
And Ark Invest wants to meet this demand!
In other words: it will become harder for the SEC to disapprove or postpone decisions about Bitcoin ETF filings.
