SEC Postpones Verdict on Ark 21shares and Global X Spot Bitcoin ETFs

The U.S. securities regulator precocious announced a hold successful its verdict connected the Ark 21shares Bitcoin ETF. Consequently, the U.S. Securities and Exchange Commission (SEC) has marked January 10, 2024, arsenic the decisive time to either greenlight oregon cull the projected amendment.

SEC Pushes Back Decision connected 2 Spot Bitcoin ETFs

A statement from the U.S. securities authorization highlighted its determination to propulsion backmost its judgement connected the Ark 21shares Bitcoin ETF, an asset-backed money aiming for nationalist listing. The filing for this ETF was jointly presented by Cboe BZX Exchange, 21shares, and Ark Invest connected April 25, 2023.

This ETF joined the ranks of respective spot bitcoin ETF applications, with manufacture giants similar Invesco, Blackrock, Fidelity, Vaneck, Valkyrie, Wisdomtree, and Franklin Templeton each successful the queue. Notably, the SEC had antecedently postponed its determination connected 7 of these filings, including the Ark 21shares Bitcoin ETF, connected August 31, 2023.

Upon a elaborate introspection of the connection and consequent modifications, the SEC said connected Tuesday that it chose to prolong the valuation signifier to warrant a broad review. “The Commission finds that it is due to designate a longer play wrong which to contented an bid approving oregon disapproving the projected regularisation alteration truthful that it has capable clip to see the projected regularisation change, arsenic modified by Amendment No. 3, and the issues raised therein,” the SEC detailed.

“I’m shocked they went this aboriginal connected Ark and 21Shares. My presumption is they’re disquieted astir the authorities shutdown and trying to get up of that,” Bloomberg Intelligence ETF expert James Seyffart said connected Tuesday. In summation to the Ark 21shares filing, the securities watchdog besides deferred its decision connected the spot bitcoin ETF filing submitted by Global X and its listing spouse Cboe BZX.

What bash you deliberation astir the SEC’s caller hold connected 2 spot bitcoin ETF registrations? Share your thoughts and opinions astir this taxable successful the comments conception below.