Cathie Wood’s ARK Invest Claims Top Spot In Approval Race For Spot Bitcoin ETF

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Cathie Wood’s ARK Investment Management LLC on Monday said that it is the first in line to obtain approval for a potential spot-Bitcoin (CRYPTO: BTC) ETF. What Happened: This contrasts with industry speculation that BlackRock (NYSE:BLK) is ahead in the race for approval, given its recent filing for a spot product. However, as stated by ARK analyst Yassine Elmandjra, “other applicants will be able to amend their filings with similar agreements at little cost,” Bloomberg reported. In April, ARK and 21Shares filed an application for a Bitcoin ETF that is reportedly ahead of BlackRock’s. Although …

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