First Deadline Coming for Spot Bitcoin ETF | Crypto Daily Digest Aug. 11

TI Research

The SEC’s decision on the Ark Invest spot BTC ETF application dealine is on this Sunday. While it is widely perceived that SEC will not make a decision this time, everything is possible.

All eyes are on the Securities and Exchange Commission (SEC) as it mulls a number of applications for a spot Bitcoin exchange traded fund (ETF).

Based on current deadlines, the SEC can approve or reject ARK’s application by Aug. 13. However, Cathie Wood, the founder of Ark Invest, said a delay is likely. Wood specifically stated that it is likely that the deadline will “come and go” without event.

SEC can delay deadlines for 240 days. That means the SEC could postpone a decision on ARK’s application until January 2024 and delay decisions regarding other spot Bitcoin ETFs until March 2024.

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