SEC delays decision on Ark Make investments plot Bitcoin ETF

SEC delays decision on Ark Make investments plot Bitcoin ETF
  • SEC introduced the lengthen this day, publishing a letter calling for more knowledge from the public.
  • A decision on Ark Make investments plot Bitcoin ETF may per chance come in direction of the live of the year.
  • BlackRock and Fidelity are two of the leading companies seeking approval for a plot Bitcoin ETF.

This day’s top crypto regulation news revolves across the circulate by the US Securities and Alternate Rate (SEC) to lengthen a call on even handed one of many utterly different plot Bitcoin replace-traded funds (ETFs) sooner than it.  

SEC has but to approve a plot Bitcoin ETF for the US market, irrespective of allowing more than one futures-basically based fully ones.

ETF lengthen largely expected

A ramification of exuberance permeated the industrial when global asset management and funding behemoths BlackRock and Fidelity filed proposals to give plot Bitcoin ETFs for the US market.

With the SEC now calling for more public input for the Ark 21Shares plot Bitcoin ETF, the reaction across the crypto industrial has largely been even handed one of muted disappointment. It is a ways because as Bloomberg ETFs educated James Seyffart highlighted on Thursday, the market had largely priced in a lengthen.

TIMELINE: I’ve had questions in DMs and mentions over the closing few days. The next SEC closing date for #Bitcoin ETFs is @ARKInvest/@21co__‘s on 8/13. That is a Sunday so we have to look a call by the following day. My wager is after market shut the following day. We’re fully waiting for a DELAY.

— James Seyffart (@JSeyff) August 10, 2023

As has been the case with old purposes to face a connected pattern, the regulator’s consideration for the Ark Make investments ETF will now encompass additional comments and evaluate for as a lot as 60 days. A decision may per chance come grand later within the year, with the third closing date for the Ark ETF within the 2nd week of November and the perfect closing date in January 2024.

In the meantime, the first closing date for the needs by BlackRock, Fidelity, Invesco, Valkyrie, Bitwise and WisdomTree is early subsequent month. 

The expectation is that these may per chance even be pushed, although as Ark Make investments CEO Cathie Wood renowned earlier this, the SEC may per chance merely resolve to approve more than one Bitcoin ETF . 

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