In 11 August 2023, the U.S. Securities and Exchange Commission (SEC) has delayed its decision on whether to approve the Ark Investment Management’s (ARK) spot bitcoin exchange-traded fund (ETF) application. The decision date has been extended by several weeks to potentially months, and the SEC is also seeking public comments on the application for the Ark 21Shares Bitcoin ETF.
This delay is not uncommon in the process of ETF approvals by the SEC. The SEC often takes its time to thoroughly review and analyze applications for new financial products, especially those related to cryptocurrencies and other innovative technologies.
Investors and stakeholders interested in the Ark 21Shares Bitcoin ETF will likely be following developments closely and awaiting further updates from the SEC regarding its decision and any potential changes to the application