US SEC To Give Nod To Ark Invest Bitcoin ETF This Week?

Anvesh Reddy
August 7, 2023 Updated July 16, 2024
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Cathie Wood's Ark Invest Offloads $52 Mln Worth Of Coinbase & Robinhood Shares In A Week

Crypto News: Speculation is around in the crypto market that the U.S. Securities and Exchange Commission (SEC) could soon give its approval to the Ark Invest Bitcoin ETF. This comes at a time when financial giants like BlackRock, Wisdom Tree, Valkyrie Investments, VanEck, and Fidelity have all filed for Bitcoin ETFs besides Cathie Wood’s Ark, in what could be the biggest leap by mainstream industry into the crypto market ecosystem. It remains to be seen if the US regulators will be keen to take the big decision any time soon, with the US presidential election coming in November 2024.

Also Read: Digital Asset Outflows Surge, Solana And XRP Lead Impressive Weekly Inflows: Report

In recent times, influential voices like presidential candidate Robert F. Kennedy Jr., Florida Governor Ron DeSantis, and Blackrock chief executive officer Larry Fink have all expressed views on the potential of crypto industry in the financial world. Meanwhile, the Bitcoin price has stabilized in terms of maintaining sideways movement below the $30,000 mark.

Advertisement
Advertisement

Ark Bitcoin ETF – The SEC Deadline

According to data from Bloomberg Intelligence, the Ark 21Shares Bitcoin ETF filing stands first in queue in terms of the immediate deadline when the SEC officials need to respond. While the next deadline on Ark ETF is this Sunday, which is August 8, 2023, the final SEC deadline is December 27, 2023.

Following the key date around Ark Invest, Bitwise and Blackrock are the next to expect any action on their filings from the agency officials. Starting from September 1, 2023, several SEC deadlines are lined up in the following days for various ETF applicants. Whether or not Ark stands a chance to gain the first mover advantage over Blackrock remains to be seen. It was on June 28, 2023, that Ark amended its filing over the inclusion of a surveillance sharing agreement with US based crypto exchange Coinbase.

Also Read: New Whale Scoops 4 Trillion Shiba Inu (SHIB) Ahead Of Shibarium Launch

Advertisement
coingape google news coingape google news
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.