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Why Ark Invest’s Bitcoin ETF isn’t listed on DTCC

Why Ark Invest's Bitcoin ETF isn't listed on DTCC

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TL;DR

  • ARK Invest’s spot Bitcoin ETF is not listed on the DTCC, debunking circulating social media rumors.
  • Tickers associated with ARK 21Shares point to future products and ETF proposals, not a live Bitcoin ETF.
  • Misinformation spreads quickly in the crypto world, emphasizing the need for thorough verification.

The investment world was sent into a frenzy recently, with a barrage of social media chatter suggesting that ARK Invest’s highly anticipated Bitcoin ETF had finally found its place on the DTCC’s official listings.

Yet, as the dust settled and the facts were scrutinized, the reality proved to be far from the rumors. Let’s delve into the intricacies of this matter and dissect why ARK Invest’s spot Bitcoin ETF is conspicuously absent from the DTCC’s records.

Despite the social media uproar led by prominent crypto aficionados and channels on the 25th of October, a closer inspection revealed a glaring discrepancy.

The screenshots and posts circulating were showcasing tickers, alright, but none were the much-awaited ARKB, ARK Invest’s authentic ticker for their spot Bitcoin ETF.

Instead, what was flaunted were tickers tethered to futures products, leading to a web of confusion and misinformation.

The ARKB Mystery Continues

A deep dive into the archives reveals that the latest amendment to ARK’s spot Bitcoin ETF application was lodged on October 11th, showcasing ARKB as the chosen ticker.

Fast forward to October 25th, a visit to the DTCC’s website, where every ETF listing under the sun should be flaunted, yields no trace of ARKB. A rather baffling scenario, considering the social media frenzy and the expectations surrounding this Bitcoin ETF.

Now, ARKA, a ticker that might cause a double-take, actually links to the ARK 21Shares Active Bitcoin Futures ETF. This, according to its latest filing on August 11th, is still in limbo, pending approval, and aims to offer investors a gateway to Bitcoin futures contracts.

Tickers ARKY and ARKZ? They are also in the waiting room, with aspirations to connect investors to Ethereum Futures and a combined Bitcoin-Ethereum strategy, respectively. Yet, all are still at the mercy of the U.S. Securities and Exchange Commission’s green light.

Debunking the Hype: A Closer Look

It’s imperative to highlight that ARK Invest isn’t sailing this ship of anticipation alone. BlackRock’s iShares spot Bitcoin ETF, IBTC, found itself in a similar whirlwind of excitement and confusion.

While the market saw a surge with the news of its DTCC listing, a spokesperson from DTCC later clarified that IBTC has been on their list since August, emphasizing that a listing on their site is merely preparatory, not a definitive nod of approval.

This revelation came in the wake of Bitcoin’s value skyrocketing, briefly kissing the $35,000 mark for the first time in almost two years, fueled by the rumors around the ETF listings.

Traders were quick to connect the dots, albeit erroneously, between the DTCC listings and a potential Bitcoin rally. Amidst this chaos and speculation, ARK Invest quietly filed a fourth amendment to its spot Bitcoin ETF application.

However, a scrutinizing eye from Bloomberg’s senior ETF analyst, Eric Balchunas, suggested that these were merely superficial changes, adding another layer to the already complex narrative.

The saga surrounding ARK Invest’s spot Bitcoin ETF and its elusive DTCC listing serves as a potent reminder of the complexities and the hype that can engulf the financial world, particularly when it intersects with the volatile and ever-evolving realm of cryptocurrency.

The Bitcoin ETF has become a sort of Holy Grail in these circles, a tantalizing prospect that has the power to bridge traditional finance and the frontier world of digital currencies.

Yet, as this episode has starkly illustrated, the road to such innovation is fraught with misinformation, impatience, and speculation.

It underscores the need for a critical perspective, a discerning eye, and a dose of patience as we navigate through the noise and wait for the clear, unambiguous facts to emerge.

In this dance of anticipation and scrutiny, one thing is clear – the Bitcoin ETF saga is far from over, and the world will be watching, waiting, and dissecting every move until clarity and resolution finally grace the stage.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Jai Hamid

Jai Hamid is a passionate writer with a keen interest in blockchain technology, the global economy, and literature. She dedicates most of her time to exploring the transformative potential of crypto and the dynamics of worldwide economic trends.

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