According to a recent report by CNBC, the United States Securities and Exchange Commission (SEC) is rapidly approaching a key deadline for making a ruling on ARK’s application for a Bitcoin (BTC) Spot Exchange Traded Fund (ETF).
With the global asset manager’s deadline set for August 13, the industry eagerly awaits the SEC’s thumbs up or thumbs down.
Bitcoin ETF Decision Could Be Pushed To 2024?
ARK’s Bitcoin ETF application was officially published in the Federal Register on May 15, triggering a countdown for the SEC’s decision. A subsequent filing on June 15 designated August 13 as the date by which the SEC must either approve or disapprove the proposed rule change or initiate proceedings for determining disapproval.
However, it’s important to note that the SEC has the authority to extend the deadline by a maximum of 240 days, potentially prolonging the final response until January 10, 2024, for ARK’s…
