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  ARK Investment Management founder and CEO Cathie Wood predicted on Aug. 7 the SEC would delay its decision on the firm's spot BTC ETF application. 
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<div class="cointelegraph"> 
 <p>The United States Securities and Exchange Commission (SEC) has delayed a decision on approving or disapproving the spot Bitcoin (BTC) exchange-traded fund proposed by ARK Investment Management.</p> 
 <p>In an Aug. 11 notice, the SEC opened a 21-day <a rel="noopener noreferrer nofollow" title="comment" href="https://thebittimes.com/tag/comment.html">comment</a> period for the ARK 21Shares Bitcoin ETF to the public following publication in the Federal Register, the latest delay for the regulator determining whether to approve or disapprove of a spot crypto ETF in the United States. ARK originally filed to list the ETF in May, giving the SEC a maximum of 240 days — until January 2024 — to reach a final decision.</p> 
 <p>“The regulated market of significant size test does not require that the spot bitcoin market be regulated in order for the Commission to approve this <a rel="noopener noreferrer nofollow" title="proposal" href="https://thebittimes.com/tag/proposal.html">proposal</a>, and precedent makes clear that an underlying market for a spot commodity or currency being a regulated market would actually be an exception to the norm,” said the SEC. </p> 
 <p>ARK Investment Management is one of many firms in the U.S. applying to get a spot crypto ETF listed on a regulated exchange. BlackRock, the largest asset management firm in the world, notably sent in its own application in July. A number of firms also amended existing applications to include cryptocurrency exchange Coinbase as a surveillance-sharing partner following reports SEC officials could be more open to accepting an ETF under those conditions.</p> 
 <p class="post-content__disclaimer">This is a developing story, and further information will be added as it becomes available. </p> 
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SEC punts on ARK 21Shares spot Bitcoin ETF, opens proposal to comments

TheBitTimes

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