ARK Invest's Surveillance Agreement Boosts Bitcoin ETF Approval Chances

ARK Invest has amended its application for a spot Bitcoin ETF with the SEC, including a surveillance sharing agreement with the CME futures markets and a crypto exchange, likely Coinbase. This puts ARK ahead in the race for the first Bitcoin ETF in the US. However, even if approved, ARK still needs to appoint a crypto exchange for the surveillance-sharing agreement. BlackRock's recent filing has triggered similar initiatives from other financial investment firms, including Valkyrie, WisdomTree, and Invesco.