ARK 21Shares Bitcoin ETF: U.S SEC Delays Decision
SEC ETF
Key Points:
- The regulator requested extra time to decide whether to approve or reject the proposal.
- If accepted, shares would be listed on the BZX Exchange of the Cboe under the name ARKB.
- The SEC has released an order soliciting public comment on the Ark 21Shares Bitcoin ETF proposal.
U.S. SEC has put off making a judgement on ARK 21Shares’s prominent proposal to launch a spot Bitcoin exchange-traded fund (ETF). The regulator requested extra time to decide whether to approve or reject the proposal in a file submitted on Friday.
In June of 2021, ARK Invest, Cathie Wood’s investment business, submitted its first application for the Ark21Shares exchange-traded fund. The company’s product is being distributed via 21Shares AG, a Swiss exchange-traded fund (ETF) provider. If accepted, shares would be listed on the BZX Exchange of the Cboe under the name ARKB. Exchange-Traded Funds (ETFs) are a kind of investment instrument that mirror the underlying price of an asset.
Seeks Public Feedback
The SEC has released an order soliciting public comment on the Ark 21Shares Bitcoin ETF proposal, a routine procedure that will likely delay a final ruling by a few weeks. Once the SEC begins evaluating an application, it has a total of 240 days to reach a conclusion.
The Securities and Exchange Commission (SEC) is providing the general public with an opportunity to provide feedback on the proposal itself for a period of three weeks, after which the SEC will have a further five weeks to reply to the first comments.
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