Ark Invest becomes first asset manager to disclose Bitcoin ETF fees

Where ARK Invest is located, Katie Wood, a New York-based investment management firm that filed a bitcoin ETF last week, has joined the ranks of several other US companies asking the security and Exchange Commission (SEC) to persuade them to launch an exchange-traded fund that tracks the price of bitcoin.

However, ark Invest is one thing that stands out among the increasingly busy areas; the company became the first to disclose the actual decommissioning of its bitcoin ETF offering, according to a Financial Times report.

According to the disclosure form filed with the SEC, ark Invest offers 21shares bitcoin ETF Ark, which, if approved, will be traded on the BZX Cboe Exchange under the symbol arkb, in cooperation with the Swiss etf provider and 21SHARES AG.

In October, the file mentions a planned fee of 0.95% that must be paid by 21Shares, with the latter having to use the money to cover operating costs.

Nina Mishra, Research Director of ETFs at Zacks Investment Research, told the FT that because the proposed ark bitcoin ETF already has a large Sunday, it means rivals will” want to meet or reduce the cost ratio by starting a wage war in space.”

Cathie Wood’s ark Invest joins bitcoin etf race
Both ark Innovation and the next generation of internet ETFs own shares of Coinbase crypto exchanges that have been transferred to the storage service for the proposed bitcoin ETF. If the proposal is approved, Mishra said, it would mean both funds are significant shareholders and investors would have free access to the product.

The next-generation internet ETF is also a Grayscale bitcoin trust (GBTC) investor.

US investors still waiting for bitcoin ETF
An exchange traded fund is a publicly traded fund that tracks the price of the underlying asset. In the case of the Bitcoin ETF, it gives institutional investors access to bitcoin without the need for active physical buying.


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