The Latest Breaking News from ARK

Dimon made headlines last month when he vocally criticized Bitcoin, the world's largest crypto asset by market capitalization, saying he would "close down" BTC if he was the one running the U.S. government as the crypto asset, along with other cryptocurrencies, is used by criminals.

Last week, it was reported that the SEC met with hopeful spot Bitcoin ETF issuers to iron out details of their filings and inform them of a deadline for submitting amended proposals on Dec. 29.

Like BlackRock and ARK, Grayscale also initially said it would use the in-kind creation and redemption model on its spot Bitcoin ETF. But as Wall Street giants ironed out details with the regulator – probably looking to be a part of the first wave of applications to be approved by…

Over the past few weeks, several companies, including Blackrock and ARK, amended their S-1 registration with the SEC, to make it to the supposed first batch of approved spot Bitcoin ETF issuers.

The major Wall Street regulator has reportedly instructed spot Bitcoin ETF applicants to amend their filings and use the cash creation and redemption model.

Shares of the company are up 56% for the year.

Bitcoin ended last week at around $41,400, recording a 5.5% loss from the previous week's closing value of around $43,800. It continued to dip Monday, reaching a weekly low of about $40,425.

ARK's latest move suggests that the U.S. Securities and Exchange Commission did not budge on its preferred creations and redemptions model.

Cathie Wood's ARK Innovation is on top for the year again — racing back past Fidelity Blue Chip Growth. She can thank this stock.