ARK Investment Management, a cryptocurrency investment firm founded by Bitcoin ( BTC ) advocate Cathie Wood , isn’t giving up on its efforts to launch a spot Bitcoin exchange-traded fund (ETF) in the United States.

On Nov. 20, ARK Invest  filed another amended prospectus for its spot Bitcoin ETF product developed in collaboration with the European digital asset manager 21Shares.

If approved, the ETF, named the ARK 21Shares Bitcoin ETF, will trade on the Chicago Board Options Exchange’s BZX Exchange under the ticker symbol ARKB, the updated filing reads.

This latest update is ARK and 21Shares’ third amendment to the prospectus since the firms first filed for a spot Bitcoin ETF in April 2023. ARK previously amended its form S-1 registration statement  in October, which was interpreted by experts as a “good sign” of progress.

In September 2023, the SEC again delayed its expected decision on ARK’s application. The next deadline for the decision has been set for Jan. 11, 2024.

According to Bloomberg ETF analyst Eric Balchunas, the latest filing includes many updates, including numerous risk disclosures designed to satisfy corporate finance requirements.

Related: WisdomTree amends S-1 form spot Bitcoin ETF filing as crypto awaits SEC decisions

“One interesting thing is they are sticking to in-kind creations redemptions — albeit in a hybrid model — to minimize tax and spread issues,” Balchunas noted . “Semi-shocker to be honest, but in a good way,” he added, stating:

“The more updates to these documents the better, shows them getting these bad boys in shape for SEC approval.”

Bloomberg ETF watcher James Seyffart also suggested that the latest filing likely reflects that things are moving with the SEC conversations.

While ARK has been actively amending its application, not all spot Bitcoin ETF filers have amended their filings. According to Steyfart’s data, as of mid-November, Franklin Templeton and Global X were the only two firms out of 12 spot Bitcoin ETF filers that hadn’t amended their S-1 filings.

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