The U.S. securities regulator recently announced a delay in its verdict on the Ark 21shares Bitcoin ETF. Consequently, the U.S. Securities and Exchange Commission (SEC) has marked January 10, 2024, as the decisive day to either greenlight or reject the proposed amendment.
SEC Pushes Back Decision on 2 Spot Bitcoin ETFs
A statement from the U.S. securities authority highlighted its decision to push back its judgment on the Ark 21shares Bitcoin ETF, an asset-backed fund aiming for public listing. The filing for this ETF was jointly presented by Cboe BZX Exchange, 21shares, and Ark Invest on April 25, 2023.
This ETF joined the ranks of several spot bitcoin ETF applications, with industry giants like Invesco, Blackrock, Fidelity, Vaneck, Valkyrie, Wisdomtree, and Franklin Templeton all in the queue. Notably, the SEC had previously postponed its decision on seven of these filings, including the Ark 21shares Bitcoin ETF, on August 31, 2023.
Upon a detailed examination of the proposal and subsequent modifications, the SEC said on Tuesday that it chose to prolong the evaluation phase to guarantee a comprehensive review. “The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, as modified by Amendment No. 3, and the issues raised therein,” the SEC detailed.
“I’m shocked they went this early on Ark and 21Shares. My assumption is they’re worried about the government shutdown and trying to get ahead of that,” Bloomberg Intelligence ETF analyst James Seyffart said on Tuesday. In addition to the Ark 21shares filing, the securities watchdog also deferred its decision on the spot bitcoin ETF filing submitted by Global X and its listing partner Cboe BZX.
What do you think about the SEC’s recent delay on two spot bitcoin ETF registrations? Share your thoughts and opinions about this subject in the comments section below.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments