ARK Invest Bitcoin ETF Expected To Be Delayed: Cathie Wood
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ARK Invest Bitcoin ETF Expected To Be Delayed: Cathie Wood

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The founder of ARK Invest, Cathie Wood, has stated that she anticipates a further delay for the company's proposed spot Bitcoin ETF.

ARK Invest Bitcoin ETF Expected To Be Delayed: Cathie Wood

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SEC may yet extend the deadline for deciding whether to approve Bitcoin spot ETFs

The founder of ARK Invest, Cathie Wood, has stated that she anticipates a further delay for the company's proposed spot Bitcoin ETF.

The US Securities and Exchange Commission (SEC)'s evaluation period for ARK Invest’s fund expires on August 13.

If the SEC decides to approve any Bitcoin spot ETFs, Wood stated that she anticipates that more than one will be approved simultaneously.

The ARK Invest and 21Shares Bitcoin ETF is in the lead among the eight applications being reviewed by the regulator.

The decision date may be extended further by the SEC. This week, the SEC closes the public comment period for many of the funds.

Gary Gensler, the chairman of the Securities and Exchange Commission, has voiced his concern over fraud and manipulation in the industry, and Grayscale has urged that any potential approval should include prior funds that have been rejected.

According to Wood, the focus will be on marketing and communication because the majority of the fund will essentially be the same.

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