SEC delays approval on Bitcoin ETF in September 2023

  1. The Securities and Exchange Commission (SEC) has postponed the approval of the ARK 21Shares Bitcoin ETF, with the final deadline for the SEC to make a decision set for January 10, 2024.

  2. The SEC acknowledges that designating a longer time frame to issue approval or disapproval orders for the proposed rule changes is appropriate, allowing the Commission sufficient time to review the proposed amendments.

  3. The SEC is currently reviewing registration applications for a series of other proposed Bitcoin spot ETFs from major names including BlackRock, Fidelity, VanEck, and Invesco. The ARK 21Shares Bitcoin ETF is leading the list for approval.