♦️ The Securities and Exchange Commission has delayed approval of the ARK 21Shares Bitcoin ETF, the deadline for the SEC to make a decision is January 10, 2024
♦️ The SEC finds that it is appropriate to specify a longer period of time within which to issue an order approving or disapproving a proposed rule change so that the Commission has sufficient time to consider the proposed rule change
♦️ The SEC is currently reviewing applications for a series of other proposed #Bitcoin spot #ETF funds from big names including BlackRock, Fidelity, VanEck and Invesco. The ARK 21Shares Bitcoin ETF is leading the approval list.
♦️ The reason why the SEC has not approved the fund#Bitcoin ETFs are the SEC concerned about fraud and manipulation. Previously, the SEC allowed the first Bitcoin futures ETF to trade in 2021.
