The United States Securities and Exchange Commission (SEC) has extended the deadline for making a decision on ARK Invest’s application for a Bitcoin Spot Exchange Traded Fund (ETF). Initially set for August 13, the decision has significant implications for the crypto industry and institutional adoption of Bitcoin. Bloomberg Intelligence analysts predict a 65% chance of approval for a Bitcoin spot ETF based on recent developments. In the meantime, various institutions are also seeking to launch ETFs based on Ethereum Futures, although past applications have been rejected by the SEC.
AI Sentiment: Neutral
