Cathie Wood CEO and CIO of Ark Invest and the investment firm 21Shares have continued their pursuit of the first spot Bitcoin ( BTC-USD ) exchange traded fund that can be traded in the U.S. as the partnering pair refiled an application with the U.S. Securities Exchange Commission for their spot Bitcoin ETF. The filing comes off the back of Bitcoin’s recent rally in 2023, where the cryptocurrency had jumped roughly 75% from the $16.5K level it started the year out at to the current $28.8K level. Ark Invest and 21Shares are hoping that the third filing will be the charm as the first two submissions were shot down. The first filed spot Bitcoin ETF came back during June of 2021 which was later rejected in April of 2022. The pairing went on to refile for a second time in May of 2022 to once again to be rejected in January of 2023. Wood and her popular ARK Innovation ETF ( NYSEARCA: ARKK ) have been a longtime crypto advocate as she made the aggressive call back in Q4 of 2022 that the price of Bitcoin will hit $1M by the year 2030 . Such a move would mark a roughly 6,000% topside gain over the next seven years. In other Bitcoin news, Standard Chartered recently said in a published report that Bitcoin has the potential to hit $100K by the end of 2024.
