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SEC delays decision on ARK 21Shares Bitcoin ETF by 60 days

The US Securities and Exchange Commission (SEC) has extended the approval period for the Bitcoin exchange-traded fund (ETF) ARK 21Shares, a joint proposal by Ark Invest and 21Shares.

According to filings filed Tuesday, the SEC will do so to press The approval or rejection period for the ARK 21Shares Bitcoin ETF is 2/2 to 3/4 (an additional 60 days). The agency noted that it is “reasonable to set a longer period” for the regulator to consider the proposed rule change in order for the ETF to be listed on the Cboe BZX Exchange.

The exchange initially filed filing for registration for the ARK 21Shares Bitcoin ETF in July 2021, allowing the SEC to delay its decision and referendum by up to 180 days, with an option to postpone the final 60-day extension on 2/2.

After April 3, the SEC can no longer hesitate and must make a decision on approving or disapproving the ETF

US regulators have yet to approve ETFs with direct exposure to cryptocurrencies like Bitcoin, but green investment vehicles related to BTC futures for the first time in October 2021. .

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.