SEC Delays Deadline for Approval of Ark Invest’s Bitcoin ETF

SEC Delays Deadline for Approval of Ark Invest’s Bitcoin ETF

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Answer SEC Delays Deadline for Approval of Ark Invest’s Bitcoin ETF

The US Securities and Exchange Commission has postponed its decision to approve the first Bitcoin-traded spot fund, according to a report Reuters.

The authority will now have to decide whether or not to give the go-ahead for Cathy Wood’s Ark Invest and ETF also 21Shares to bid by August 30.

The Authority needs a sufficient amount of time in order to consider the above-mentioned deposit.

The delay comes after the SEC rejected Grayscale’s attempt to convert its GBTC bitcoin fund into an ETF, infuriating the largest cryptocurrency operator, which decided to sue the SEC and take it to court, which we noted in a previous article on Arab Bitcoin.

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The postponement of the SEC’s decision is not surprising or unexpected because the agency believes that the spot crypto market is not yet mature and is still controlled by whales.

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