SEC Delays Decision on Ark 21Shares Spot Bitcoin ETF

According to The Block, the U.S. Securities and Exchange Commission (SEC) has delayed the deadline for a decision on the proposed ARK 21Shares Bitcoin ETF to Jan. 10, 2024, and on the Global X Bitcoin Trust to Nov. 21, 2023.

"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," the SEC said in a filing.

The SEC is currently reviewing spot bitcoin ETF applications from a number of companies, including BlackRock, Fidelity, VanEck and Invesco. The decision deadlines on BlackRock's iShares Bitcoin Trust, Fidelity's Wise Origin Bitcoin Trust, the VanEck Bitcoin Trust, the WisdomTree Bitcoin Trust and the Invesco Galaxy Bitcoin ETF were extended until Oct. 17, while the deadline for the Valkyrie Bitcoin Fund was pushed back until Oct. 19. A decision deadline on the Bitwise Bitcoin ETP Trust was last delayed until Oct. 16.

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