SEC Delays ARK Invest Spot Bitcoin Decision Ahead of November 11 Deadline
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SEC Delays ARK Invest Spot Bitcoin Decision Ahead of November 11 Deadline

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Created 4mo ago, last updated 4mo ago

The US Securities and Exchange Commission (SEC) has pushed back its decision on several Bitcoin spot ETF applications.

SEC Delays ARK Invest Spot Bitcoin Decision Ahead of November 11 Deadline

SEC Has Delayed A Decision On ARK Invest Spot Bitcoin

The US Securities and Exchange Commission (SEC) has pushed back its decision on several Bitcoin spot ETF applications.
In a filing on Tuesday, it pushed back the deadline for the Ark Invest and 21Shares ETF again. The decision date is delayed from Nov. 11, 2023 to Jan. 10, 2024, which will be the ultimate date by which the application must be approved or denied. Other applications from GlobalX and BlackRock that were due decisions on October 7 and October 17 respectively may also see further delays.

The SEC had been facing mounting pressure to approve spot ETFs after a lawsuit from Grayscale found the agency's denial of spot funds while approving futures products was "arbitrary and capricious."

This comes after some senators, including Tom Emmer and Ritchie Torres, had sent a letter demanding the SEC stop discriminating against spot Bitcoin ETFs. However, analysts believe the delays are due to an anticipated government shutdown.

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