Breaking: US SEC Delays ARK Bitcoin ETF Decision

Crypto News: Amid much anticipation in the lead up to the deadline, the U.S. Securities and Exchange Commission (SEC) on Friday published a notice that invites comments on the proposal to list the Ark Spot Bitcoin ETF. The agency published the notice to solicit comments on the proposed rule change to list and trade shares of the ARK 21Shares Bitcoin ETF. Interested persons are invited to publish their comments on the proposal and the motive of this exercise is to determine whether to approve or disapprove the proposed rule change.

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In a similar window, the US SEC had in July 2023 opened a comment period for investors, traders and general public to submit their views on the Bitcoin ETF filings. In the last two months, the crypto market has been buoyant on the spot ETF filings from major asset managers like Blackrock and Fidelity.

US SEC Delays Decision On Spot ETFs

Essentially, the US SEC has delayed its decision on whether or not to allow the ETF, by citing the public comment window. However, the delay came in on expected lines. Originally, the first deadline for the Ark Invest filing was August 13, 2023, which falls on Sunday. Earlier, CoinGape reported analyst prediction that the Commission could prepone the decision, or any alternate action on the Ark Invest filing.

“The Commission requests that interested persons provide written submissions of their views, data, and arguments (on the proposed listing).”

On the other side, the agency also warned that the proceedings on seeking comments from public in no way indicate that it has reached any conclusions with respect to any of the issues involved with the proposal.

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