The U.S. Securities and Exchange Commission (SEC) has decided to delay its decision regarding the ARK 21Shares Bitcoin ETF until next year. This is the second delay for the proposed fund, and it comes after the SEC requested new written comments last month. ARK CEO Cathie Wood had anticipated the delay and suggested that the SEC might approve multiple bitcoin ETFs simultaneously. The SEC is currently reviewing applications for other spot bitcoin funds from major firms like BlackRock, Fidelity, VanEck, and Invesco. The agency has not yet approved a spot bitcoin ETF, citing concerns over fraud and manipulation. The decision deadlines for several other bitcoin funds have also been extended. The SEC allowed the first bitcoin futures ETF to trade earlier this year.
AI Sentiment: Negative
