SEC Rescheduled Deadline for Ruling on Spot Bitcoin ETF from ARK 21Shares
The SEC has postponed the deadline for approving or rejecting the spot bitcoin ETF from ARK 21Shares until August 30
According to the regulator, the time frame for making a decision on the ARK 21Shares product has been extended from July 16 for another 45 days. Initially, the application to the SEC was filed in May, and on June 1, a proposal was made to change the rules from the Chicago Board Options Exchange BZX Exchange.
Last year, Ark Invest entered into cooperation with the European ETF issuer 21Shares in order to launch a spot bitcoin ETF with a listing on the CBOE BZX exchange, but in April the application was rejected by the SEC. According to the current rules, the regulator can postpone the verdict and open the investment proposal for public comment within 180 days, that is, the SEC can provide a final verdict by January 2023.
SEC Assistant Secretary J. Matthew Deledernier stressed that the extension of the deadline was chosen to give the necessary amount of time to study the proposed rule change and the issues raised in it. So far, the regulator has not approved a single spot product, but bitcoin futures ETFs from several companies have already entered the market.
In June, Grayscale's application to convert GBTC into a spot product was rejected, after which the company filed a petition with the court to review the regulator's decision.
Subscribe to the channel coin-signal.com in Telegram - always the latest news and market overview
https://coin-signal.com/cryptonews/sec-rescheduled-deadline-for-ruling-on-spot-bitcoin-etf-from-ark-21shares/
#21Shares, #Ark, #Bitcoin, #Cryptonews, #Deadline, #Etf, #Rescheduled, #Ruling, #Sec, #Spot
#CryptoNews