ARK Resorts To Canadian Bitcoin ETFs Amid SEC Delays

A new supplement filing with the U.S. Securities and Exchange Commission (SEC) shows that Cathie Wood’s ARK Investment Management has given itself clearance to purchase Canadian bitcoin exchange-traded funds (ETFs). The firm’s ARK Next Generation Internet ETF, which previously could only get bitcoin exposure through investments in a grantor trust, has updated its prospectus to enable the fund to invest in bitcoin ETFs up north.

The move comes amid several delays and rejections for similar products in the U.S by the SEC, which likely prompted ARK to seek alternatives abroad. After filing the supplement with the SEC, the ARK Next Generation Internet ETF now has another option for obtaining indirect bitcoin exposure. In addition to the Grayscale Bitcoin Trust (GBTC), the fund can now invest in “other pooled investment vehicles, such as exchange-traded funds domiciled in Canada.”

Source link

You May Also Like