{"id":163490,"date":"2023-09-27T06:43:30","date_gmt":"2023-09-27T01:13:30","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=163490"},"modified":"2023-09-27T06:43:30","modified_gmt":"2023-09-27T01:13:30","slug":"sec-again-delays-decision-on-arks-bitcoin-etf-filing-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/sec-again-delays-decision-on-arks-bitcoin-etf-filing-crypto-news\/","title":{"rendered":"SEC Again Delays Decision on Ark\u2019s Bitcoin ETF Filing – Crypto News"},"content":{"rendered":"
\n

The US Securities and Exchange Commission (SEC) has again delayed approval for a set of Bitcoin spot ETF applications that have accumulated in its inbox.<\/p>\n

One is GlobalX\u2019s ETF application, for which a response was due from the agency on October 7 after the ETF provider joined the race later than competitors. However, it also delayed approval for the Ark\/21Shares ETF, which wasn\u2019t due until November 11.<\/p>\n

\u201cThe Commission designates January 10, 2024, as the date by which the Commission shall either approve or disapprove the proposed rule change,\u201d wrote the SEC in a Tuesday filing<\/a>. This marks the absolute final deadline by which the agency must either approve or deny Ark\u2019s application.<\/p>\n

The SEC last delayed<\/a> Ark\u2019s application in August, followed by a slew of other delays on applications from rival firms that were due in early September. BlackRock\u2014the most prominent among the competitors\u2014has its next deadline slated for October 17, which may be delayed again.<\/p>\n

The delay comes shortly after a group of crypto-supportive congressmen including Tom Emmer and Ritchie Torres sent a letter<\/a> to SEC chair Gary Gensler demanding that he \u201cnot continue to discriminate against spot Bitcoin exchange-traded products.\u201d<\/p>\n

Last month, Grayscale won a lawsuit against the SEC when it argued that the agency was being \u201carbitrary and capricious\u201d in its denial of the firm\u2019s spot Bitcoin ETF alongside simultaneous approval of futures ETFs. The victory has left investors in eager anticipation of what the SEC will do in response: either approving a spot ETF, or appealing the court\u2019s decision.<\/p>\n

Either way, Bloomberg ETF analyst James Seyffart said Tuesday\u2019s delays may have \u201cput the hammer down\u201d on hopes of such a product being approved by the end of the year.<\/p>\n

\u201cMy base case is that we will get the \u2018delays\u2019 on the other filings tomorrow or sometime this week, and the SEC is simply getting ahead of a likely federal government shutdown,\u201d he wrote<\/a> on Twitter on Tuesday.<\/p>\n

Bitwise\u2014another member of the Bitcoin ETF race\u2014filed an amendment to its application<\/a> on Tuesday featuring new arguments against the SEC\u2019s case for denying spot ETFs.<\/p>\n

\n
<\/p>\n

Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The US Securities and Exchange Commission (SEC) has again delayed approval for a set of Bitcoin spot ETF applications that have accumulated in its inbox. One is GlobalX\u2019s ETF application, for which a response was due from the agency on October 7 after the ETF provider joined the race later than competitors. However, it also […]<\/p>\n","protected":false},"author":2,"featured_media":108496,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-163490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/163490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=163490"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/163490\/revisions"}],"predecessor-version":[{"id":163495,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/163490\/revisions\/163495"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/108496"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=163490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=163490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=163490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}