© Reuters. The head office of the U.S. Securities and Exchange Commission (SEC) is seen in Washington, D.C., U.S., May 12, 2021. Image taken Might 12, 2021. REUTERS/Andrew Kelly
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( Reuters) – The U.S. Securities and Exchange Commission (SEC) has actually postponed a choice on whether to authorize Cathie Wood-led Ark Financial investment Management’s (ARK) area bitcoin exchange-traded fund (ETF), a filing by the regulator revealed on Friday.
The SEC is looking for public discuss the Ark 21Shares ETF application, and has actually pressed back the choice date by numerous weeks to possibly months. It was formerly due to decide by Aug. 13.
The regulator has in current years declined lots of applications for area bitcoin ETFs, openly traded financial investment cars that straight track bitcoin rate, pointing out insufficient level of trading security that might leave the underlying area market topic to scams and control.
Still, futures-based bitcoin ETFs that track the rate of bitcoin futures agreements have actually been enabled by regulators considering that October 2021.
Interest from significant banks has actually assisted restore the crypto markets in current months that had actually remained in the doldrums after a series of prominent companies collapsed in 2015 consisting of Sam Bankman-Fried’s FTX.
In June, BlackRock (NYSE:-RRB-, the world’s most significant possession supervisor, likewise applied for a bitcoin ETF, a relocation that numerous considered as a gamechanger for the market.
In 2021, Wood’s ARK and crypto financial investment company 21Shares United States LLC had actually very first teamed approximately submit an application for an area bitcoin ETF with the regulator.
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