The Securities and Exchange Commission (SEC) of the USA has extended the deadline for approval for the ARK 21Shares Bitcoin exchange-traded fund (ETF). The ETF was proposed in July 2021.
According to a Tuesday filing from the Securities and Exchange Commission, the deadline for approving or denying the ARK 21Shares Bitcoin ETF will be extended from February 2 to April 3. Officials from SEC said that it was appropriate to designate a longer term for the regulatory body to review the proposed rule change. It would allow the ETF to be listed on the Cboe BZX Exchange.
The exchange initially submitted the application for the ARK 21Shares Bitcoin ETF in July 2021, with the SEC having the opportunity to defer its approval and public comment window for up to 180 days, with additional final 60-day extension. The final 60 days window is commencing on February 2.
In a related filing, it also extended comment period on proposed rule change to allow shares of Teucrium’s Bitcoin futures ETF to be listed on NYSE Arca. Teucrium submitted an application with the SEC for the investment offer in May 2021. The SEC is expected to make a final judgement by April 8.
ETFs having direct exposure to cryptocurrencies such as Bitcoin (BTC) have yet to be approved by US authorities, however investment vehicles tied to BTC derivatives were approved for the first time in October 2021.