The approaching deadline for the ARK Invest Bitcoin ETF has generated concerns from the U.S. Securities and Exchange Commission (SEC). Despite the overwhelming likelihood that the US SEC would delay any further action on the Ark Bitcoin ETF registration.
Moreover, James Seyffart, a Bloomberg ETF expert, predicts that the deadline will be advanced by one day. It is unclear whether the SEC’s decisions before the deadline will have a significant impact on the price of Bitcoin.
The US SEC has scheduled the first deadlines for Bitcoin ETFs for companies including Blackrock, VanEck, Wisdomtree and Bitwise in the first week of September 2023, after the Ark Invest date.
The Ark Invest ETF decision might be released at any time after August 11, 2023, two days before the planned deadline, according to Bloomberg analyst James Seyffart. This is due to the fact that August 13, is the stated deadline.
Therefore, Seyffart states that a verdict might be released at any point following Friday’s post-market close.
“ARK Invest’s 8/13 date is the following SEC deadline for Bitcoin ETFs. Since it’s a Sunday, we ought to hear anything by 11 August. We fully anticipate a DELAY.
A survey on cryptocurrency exchange-traded funds (ETFs) revealed that 98% of the global trading volume for these funds takes place in North America. This demonstrates the expanding impact of US-based financial institutions on the crypto ETF market.
