NewsletterBloomberg Analyst: US SEC Could Prepone Ark Bitcoin ETF Deadline
Crypto News: Questions have been raised about the timing of the upcoming U.S. Securities and Exchange Commission (SEC) deadline the for ARK Invest Bitcoin ETF. While analysts expect with high probability that the US SEC could only further delay any action on the Ark Bitcoin ETF filing, the deadline is likely to be preponed by a day, according to Bloomberg ETF analyst James Seyffart. It remains to be seen if the SEC actions before the deadline could impact Bitcoin price in a major way.
Also Read: XRP Advocate Deaton Challenges SEC’s Ripple Verdict Appeal Igniting Legal Debate
Following the Ark Invest deadline, the US SEC has the first deadlines lined up in the first week of September 2023 for Bitcoin ETFs for the likes of Blackrock, VanEck, Wisdomtree and Bitwise.
US SEC To Prepone Actions On ARK Invest Bitcoin ETF?
According to Bloomberg analyst James Seyffart, the Ark Invest ETF decision could be out any time after August 11, 2023, two days in advance of the original deadline. This is because the scheduled deadline August 13 falls on Sunday. Hence, Seyffart believes that a decision could be out anytime after Friday post-market close.
“The next SEC deadline for Bitcoin ETFs is ARK Invest’s on 8/13. That’s a Sunday so we should see a decision by tomorrow. My bet is after market close tomorrow. We are fully expecting a DELAY.”
Meanwhile, a report on crypto ETFs showed that North America amounts to 98% of all the crypto ETF trading volume in the world. This shows the growing influence of US based financial companies on the crypto ETF space.
Also Read: Binance CEO Acknowledges Fireblocks’ Report On Crypto Vulnerabilities
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