Despite rumors swirling on social media, ARK Invest’s Bitcoin spot (BTC) exchange-traded fund (ETF) does not appear to be listed on the Depository Trust and Clearing Corporation (DTCC) website.
On October 25, many high-profile crypto accounts on X (Twitter), including Mike Alfred, Bitcoin News, Simply Bitcoin, Crypto News Alerts and others, posted tweets and screenshots claiming that ARK Invest and 21 Shares’ joint Bitcoin ETF had been listed on the DTCC website.
CATHIE WOODS’ ARK SPOT BITCOIN ETF IS NOW LISTED ON THE DTCC WEBSITE WITH TICKER AND CUSIP
– Mike Alfred (@mikealfred) October 25, 2023
However, none of the screenshots showed the correct ticker for the spot Bitcoin ETF, instead showing tickers related to futures products.
Latest modified version deposit for Ark’s October 11 Spot Bitcoin ETF, it shows that the fund will trade using the ticker “ARKB.”
As of October 25, the section of the DTCC website displaying all current ETF quotes does not show any quotes under the symbol ARKB.
The “ARKA” ticker refers to the ARK 21Shares Active Bitcoin Futures ETF, which according to the most recent deposit on August 11, this is a yet-to-be-approved fund that will provide investors with exposure to Bitcoin futures.
The tickers ARKY and ARKZ refer to the ARK 21Shares Active Ethereum Futures ETF and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF, respectively – both are still proposed products awaiting approval by the Securities and Exchange Commission.
It seems that the news about the iShares listing was also exaggerated.
As the crypto market soars on the announcement of BlackRock’s iShares spot Bitcoin ETF (IBTC) had been listed on the DTCCOn the website, a DTCC spokesperson recently revealed that IBTC has been listed on the website since August.
The spokesperson said it is standard practice for DTCC to add securities to the NSCC Securities Eligibility File “in preparation for launching a new ETF into the market.”
“Appearing on the list does not indicate the outcome of any ongoing regulatory or other approval process,” the spokesperson added.
Traders noticing the BlackRock ETF spot listing on the DTCC website coincided with a 14% single-day rally for Bitcoin, which briefly broke $35,000 for the first time in almost two years.
Around the same time that rumors of an ARK listing began to surface, Eric Balchunas, senior ETF analyst at Bloomberg, wrote that ARK Invest had filed a fourth amendment to its spot Bitcoin ETF application, which seemed to be largely cosmetic changes to the filler.
ARK has just filed amendment #4 to its 19b-4, it appears to be to incorporate the changes made to its S-1 (which were once again to answer questions from the SEC). I guess I just want the two documents to be in sync (first issuer to do so). I don’t see anything else to read here other than cc @SGJohnsson pic.twitter.com/NE4Gy3spgN
– Eric Balchunas (@EricBalchunas) October 24, 2023