The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the spot Bitcoin ETF proposed by ARK Investment Management and 21Shares. In a filing released on Friday and a notice dated August 11, 2023, the SEC announced that it would “institute proceedings” to determine whether to approve or deny the Bitcoin ETF, opening a 21-day public comment period.
This latest delay follows a series of postponements by the SEC, with the next ruling or delay set for November 11, 2023. The total period for consideration is 240 days, broken into four periods of 45, 45, 90, and 60 days, set to expire on January 10, 2024. The SEC had previously delayed its decision for this planned product in June, setting up August 13 as its next deadline.
In a joint statement, ARK Invest CEO Cathie Wood and 21Shares CEO Hany Rashwan expressed their understanding of the process, stating, “While we are highly confident, we understand that…
