There have been rumors circulating on social media about ARK Invest’s spot Bitcoin exchange-traded fund (ETF) being listed on the Depository Trust and Clearing Corporation’s (DTCC) website. However, upon further investigation, it appears that these rumors may not be accurate.
On October 25th, several prominent crypto accounts on Twitter, including Mike Alfred, Bitcoin News, Simply Bitcoin, and Crypto News Alerts, posted tweets and screenshots claiming that ARK Invest and 21 Shares’ joint spot Bitcoin ETF had been listed on the DTCC’s site. One such tweet from Mike Alfred stated, “CATHIE WOODS’ ARK SPOT BITCOIN ETF IS NOW LISTED ON THE DTCC WEBSITE WITH TICKER AND CUSIP.” But none of the screenshots provided showed the correct ticker for the spot Bitcoin ETF. Instead, they showed tickers related to futures products.
In fact, the most recent filing for Ark’s spot Bitcoin ETF, dated October 11th, reveals that the fund will trade using the ticker “ARKB.” However, as of October 25th, the section of the DTCC website displaying all current ETF listings does not show any listing under the ticker ARKB.
One of the tickers mentioned in the screenshots, ARKA, actually refers to the ARK 21Shares Active Bitcoin Futures ETF. This fund, as stated in a recent filing from August 11th, is yet to be approved and will provide investors with exposure to Bitcoin futures contracts. The tickers ARKY and ARKZ respectively refer to the proposed ARK 21Shares Active Ethereum Futures ETF and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF, both of which are pending approval with the Securities and Exchange Commission.
It seems that the news of iShares’ listing was also overhyped. The market was thrilled when BlackRock’s iShares spot Bitcoin ETF (IBTC) was said to have been listed on the DTCC’s site. However, a DTCC spokesperson revealed that IBTC had actually been listed on the website since August. The spokesperson explained that it is standard practice for the DTCC to add securities to the NSCC security eligibility file in preparation for the launch of a new ETF to the market. It is important to note that appearing on the list is not indicative of any outcome for regulatory or other approval processes.
Traders who noticed BlackRock’s spot ETF listing on the DTCC website experienced a 14% single-day rally for Bitcoin, with its price briefly breaking $35,000 for the first time in nearly two years.
Around the same time as the rumors of an ARK listing surfaced, Bloomberg senior ETF analyst Eric Balchunas noted that ARK Invest had filed a fourth amendment to its spot Bitcoin ETF application. However, these changes seem to be largely cosmetic and were made to address concerns raised by the SEC.
In conclusion, despite the rumors on social media, there is currently no evidence to suggest that ARK Invest’s spot Bitcoin ETF is listed on the DTCC’s website. The tickers shown in the screenshots circulating online are related to futures products, not the spot Bitcoin ETF. It is essential to verify information and rely on official filings and statements to accurately assess the status of ETF listings and approvals.