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Sahaj Sharma
Jul 8, 2021
by Sahaj Sharma

ARK Invest Launches First Bitcoin ETF, Optimistic for Clearly Stating Fees 

ARK Invest Bitcoin ETF
ARK Invest, the investment management firm based in New York and helmed by Cathie Wood becomes the first Bitcoin ETF to reveal fees for its suggested offering. Last week, the firm applied for an ETF and joined the ranks of several other companies in the United States that hope to persuade the SEC to allow the introduction of an ETF.

ARK Invest Helmed by Cathie Wood Becomes Launches Bitcoin ETF

Well, it must be said that there is something about the application filed by ARK Invest regarding the launch of a Bitcoin ETF which tracks the price of Bitcoin.

In accordance with the report shared recently by the Financial Times, Ark Invest is the first firm to reveal the actual fee for its Bitcoin ETF offering.

In addition to this, the disclosure form which was filed with the Securities and Exchange Commission revealed that the investment management firm has joined hands with 21Shares AG, the ETF provider based in Switzerland, which if validated, would be traded on the BZX Exchange of Cboe under the ticker symbol ARKB. 

Moreover, the SEC filing designates a planned fee of 0.95% payable to 21Shares with the latter utilizes this money to cover the expenses of operations. 

Who Can Avail The Facility of BTC ETFs

As for the availability of Bitcoin ETF, it is already available to investors in countries like Brazil and Canada. However, their American equivalents are still waiting for the arrival of the product with the Securities and Exchange Commission has turned down all the applications to date.

At present, the Commission is reviewing Bitcoin ETF filings from the companies such as Fidelity, Skybridge Capital, VanEck, Kryptoin, and WisdomTree.

Also, it should be noted that both VanEck and WisdomTree have already filed for Ethereum ETFs with the Securities and Exchange Commission.

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ARK Invest Launches First Bitcoin ETF, Optimistic for Clearly Stating Fees 
Sahaj Sharma
Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.