July 3 (Cointime) - If the SEC approves BlackRock’s application for this reason, it will have to approve ARK 21Shares’ application, which is due six days earlier. This means that if ARK 21Shares’ application is approved, it will become the first Bitcoin spot ETF, potentially giving it a significant share of the market for this new investment instrument.

While this move may bring new hope for the realization of a Bitcoin ETF, there are also risks and challenges. Regulators have remained cautious about the cryptocurrency market, and the SEC has rejected multiple spot Bitcoin ETF applications in the past. Even with the addition of the surveillance sharing agreement in the current applications, the SEC will need to carefully consider protecting investor interests and market stability.