SEC Seeks Public Feedback After Pausing ARK Bitcoin ETF Application
SEC extends its review on ARK’s Bitcoin ETF, introducing a 21-day window for public commentary.
EFT uncertainty looms in the crypto sector once again as the U.S. Securities and Exchange Commission holds off on passing a verdict for ARK Investment Management’s proposed Bitcoin ETF, according to an August 11 filing:
JUST IN: ARK has amended their 19b-4 for spot bitcoin ETF to include a surveillance sharing agreement bt CBOE and a crypto exchange (likely Coinbase), which makes their's like BlackRock's filing now, and puts them in pole position to be approved first bc they filed first. pic.twitter.com/P8PCmPdhln
— Eric Balchunas (@EricBalchunas) June 28, 2023
The SEC’s earlier rejections point to concerns over ensuring investor safety and averting potential fraud. Yet, the Commission noted that a regulated Bitcoin market isn’t a strict precondition for sanction:
Today on @BloombergTV's ETF IQ @CathieDWood agreed with our assessment (below) that if spot #Bitcoin ETFs are approved by the SEC, it will be multiple at the same time and not just one. https://t.co/oNOeqs4HDL pic.twitter.com/K18qFNOtQL
— James Seyffart (@JSeyff) August 7, 2023
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