SEC Postpones ARK Invest Bitcoin ETF Proposal to January 2024

The US Securities Commission (SEC) has made the decision to delay ARK Invest’s proposed Bitcoin ETF till early 2024.

According to the most current ruling, the US Securities Commission (SEC) has moved the choice date on ARK Invest’s proposed Bitcoin spot ETF to January 2024.

The SEC has stated it demands even extra time to thoroughly think about all factors of the Bitcoin ETF proposal, so a delay is proper. What is surprising is that even though the deadline for this proposal is mid-November, the SEC chose to delay it early.

UPDATE: Wow. The SEC just came out Extremely early and delayed the @ARKInvest / @21Shares #Bitcoin ETF Deposit. A choice on this was not supposed to be manufactured till November 11th.

Also delaying the @GlobalXETF application which was due on seven October. pic.twitter.com/7DiBq1h4Ef

—James Seyffart (@JSeyff) September 26, 2023

Additionally, the SEC also delayed Global Valkyrie, VanEck, Invesco.,… will continue to have their review date postponed, scheduled for mid-October.

The SEC delayed ARK Invest’s Bitcoin ETF proposal to mid-August and the Wall Street Financial Group’s proposals to early September, Coinlive reported.

Spot Bitcoin ETFs are under SEC scrutiny. Photo: Bloomberg

During a hearing before the US Senate on September 12, SEC Chairman Gary Gensler confirmed that the Securities Commission is reviewing the ETF’s proposals, as well as the court’s ruling on Bitcoin ETF’s appeal Grayscale. The SEC has not yet licensed any spot Bitcoin ETFs due to concerns about the risk of fraud and manipulation in the cryptocurrency market.

Despite the SEC’s continued delays, the analyst from Bloomberg However, the probability of the Bitcoin spot ETF being approved in 2023 is 75%, while in 2024 it is 95%.

Coinlive compiled

Maybe you’re interested: