SEC extends deadline to decide ARK 21Shares Bitcoin ETF spot until January 2023
SEC extends deadline to decide ARK 21Shares Bitcoin ETF spot until January 2023
"The Commission reveals that it is entirely appropriate to appoint a longer time frame to issue an order approving or disapproving of the proposed alternative rule said the SEC.
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The United States Securities and Exchange Commission, or SEC, has extended its window to decide whether or not shares of ARK's Bitcoin exchange-traded fund 21Shares will be indexed on the Chicago Board Options Exchange BZX Exchange.
In a November 15 statement, the SEC issued a notice for a longer designation term for ARK's Bitcoin ETF utility 21Shares, first filed with the federal regulator on May 13. The SEC twice extended its window to approve or disapprove the crypto investment vehicle in July with an extension and in August with a notice period.
"The Commission reveals that it is entirely appropriate to designate a longer term within which to make difficult an order approving or disapproving of the proposed rule exchange so that it has sufficient time to recall the proposed rules exchange and the issues raised therein," the SEC said. assistant secretary Sherry Haywood. "Accordingly, the Commission [...] designates 27 January 2023 as the date on which the Commission will approve or disapprove the proposed trade in rules."
Ark Invest initially partnered with Europe-based ETF provider 21Shares to document a Bitcoin ETF gap pegged on the Cboe BZX Exchange in 2021, but the SEC in April. With the Nov. 15 statement, the federal regulator has effectively exhausted its ability to delay a decision on the crypto ETF under current SEC rules.
Related:
To date, the SEC has in no way cleared a GAP crypto ETF in the US but investment engines linked to BTC futures with a ProShares fund from October 2021. After having received his request denied, digital asset manager Grayscale against the SEC, arguing that his refusal to approve a BTC ETF has become "arbitrary, capricious and discriminatory ory. Other companies, including VanEck, have with the SEC for a vehicle one-time crypto funding.
"The Commission reveals that it is entirely appropriate to appoint a longer time frame to issue an order approving or disapproving of the proposed alternative rule said the SEC.
News
The United States Securities and Exchange Commission, or SEC, has extended its window to decide whether or not shares of ARK's Bitcoin exchange-traded fund 21Shares will be indexed on the Chicago Board Options Exchange BZX Exchange.
In a November 15 statement, the SEC issued a notice for a longer designation term for ARK's Bitcoin ETF utility 21Shares, first filed with the federal regulator on May 13. The SEC twice extended its window to approve or disapprove the crypto investment vehicle in July with an extension and in August with a notice period.
"The Commission reveals that it is entirely appropriate to designate a longer term within which to make difficult an order approving or disapproving of the proposed rule exchange so that it has sufficient time to recall the proposed rules exchange and the issues raised therein," the SEC said. assistant secretary Sherry Haywood. "Accordingly, the Commission [...] designates 27 January 2023 as the date on which the Commission will approve or disapprove the proposed trade in rules."
Ark Invest initially partnered with Europe-based ETF provider 21Shares to document a Bitcoin ETF gap pegged on the Cboe BZX Exchange in 2021, but the SEC in April. With the Nov. 15 statement, the federal regulator has effectively exhausted its ability to delay a decision on the crypto ETF under current SEC rules.
Related:
To date, the SEC has in no way cleared a GAP crypto ETF in the US but investment engines linked to BTC futures with a ProShares fund from October 2021. After having received his request denied, digital asset manager Grayscale against the SEC, arguing that his refusal to approve a BTC ETF has become "arbitrary, capricious and discriminatory ory. Other companies, including VanEck, have with the SEC for a vehicle one-time crypto funding.
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