While BlackRock’s spot Bitcoin ETF application was on the agenda, it turned out that the first spot Bitcoin ETF application was made by Cathie Wood’s company.
BlackRock, the world’s largest asset manager, has been busy with the spot Bitcoin ETF application. The crypto money market also started to rise with this application. The stepping of a big corporation like BlackRock into Bitcoin has made other institutions hungry. Many Bitcoin ETF applications came one after another.
However, one detail stands out. Here, too, is Cathie Wood. It turns out that Cathie Wood’s investment firm, ARK Invest, is the owner of the first spot Bitcoin ETF application.
Cathie Wood Detail on Spot Bitcoin ETF Application
According to the news that Cointelegraph cited several reports, the first spot Bitcoin ETF application was made by ARK Invest, the investment company of Cathie Wood. The situation of ARK Invest, which is said to be in the first place in the Bitcoin ETF race, is unclear.
Analysts have suggested that BlackRock will be the first in the market if its spot Bitcoin ETF application is approved. But apparently, ARK Invest is breaking this situation.
“Other applicants will be able to exchange their applications with similar agreements at very little cost,” said ARK analyst Yassine Elmadjra, who shared her views on the matter.
Elmadjra stated that his company applied for a spot Bitcoin ETF in April. According to the analyst, the only obstacle to BlackRock being the first was ARK Invest.
The SEC appointment for ARK Invest’s ETF is set for August 13, 2023.
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