Cathie Wood’s ARK Invest has submitted an updated filing for its spot bitcoin exchange-traded fund (ETF), disregarding recent guidance from the Securities and Exchange Commission (SEC). The SEC had recommended that ETF proposals switch to cash creations instead of in-kind creations. However, ARK appears to be sticking with in-kind creations and redemptions, despite concerns about potential manipulation and fraud. This decision may be driven by the tax advantages that in-kind ETFs provide investors, such as deferring capital gains and reducing taxable distributions. ARK’s filing also disclosed an expense ratio of 0.80%, making it the first issuer to reveal proposed fees for a bitcoin ETF.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Eric Balchunas |
| Companies | Securities and Exchange Commission (SEC), Division of Trading and Markets, Bloomberg, ARK Invest |
| Currencies | Bitcoin |
| Securities | None |
