US SEC To Give Nod To Ark Invest Bitcoin ETF This 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.

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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.

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.

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