The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the ARK 21Shares Bitcoin exchange-traded fund (ETF) application. The SEC cited the need for more time to review the application before making a decision. The ARK Invest firm, led by Cathie Wood, first filed the application in June 2021 and has partnered with Swiss-based ETF provider 21Shares AG. The SEC has been hesitant to approve Bitcoin ETFs due to concerns about price manipulation. Other investment firms, including BlackRock, VanEck, Fidelity, and Valkyrie Investments, are also waiting for approval to launch similar products.
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