The Securities and Exchange Commission (SEC) has postponed its decision on Ark Investment Management’s spot crypto ETF. The regulatory agency has a history of rejecting applications for spot Bitcoin ETFs. Despite challenges faced by the crypto-asset markets, growing interest from major financial services providers has helped boost the industry. BlackRock, the largest asset manager in the world, submitted a bitcoin ETF application earlier this year, seen as a significant development for the crypto ecosystem. Additionally, Cathie Wood’s ARK and 21Shares US LLC previously partnered to apply for a spot Bitcoin ETF.
AI Sentiment: Negative