JUST IN: As generally expected, the SEC is delaying a decision on ARK Invest's application for a spot bitcoin ETF. nikhileshde reports
of the Ark 21Shares bitcoin exchange-traded fund application, as it continues to look at applications from traditional finance heavyweights like BlackRock and Fidelity.calling for public input on the Ark 21Shares Bitcoin ETF application, a standard move that pushes any decision by another several weeks. The SEC has a total of 240 days to make a final decision on an application after it starts reviewing one.
Ark Investment Management and 21Shares, which have been seeking an ETF approval since 2021, filed for the first potential bitcoin ETF application again earlier this year after a second effort was rebuffed by the SEC. The SEC has traditionally rejected spot bitcoin ETF products on grounds of potential market manipulation and inadequate consumer protections against harmful activity.
"Because most of these essentially will be the same, it will come down to marketing, communicating, the message" to see how they do, she said."We're trying to get the word out there that our research is deep, and we've been doing it since 2015."statement
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