SEC Delays Decision On Spot Bitcoin ETF Yet Again
Portfolio Pulse from Murtuza Merchant
The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the spot Bitcoin (CRYPTO: BTC) exchange-traded fund (ETF) proposed by ARK Investment Management. The SEC has initiated a 21-day public comment window for the ARK 21Shares Bitcoin ETF, marking another delay in the approval process. ARK's initial application was submitted in May, with the SEC having until January 2024 to finalize its stance. The SEC has previously rejected ARK's crypto ETF submissions, citing inadequate measures to prevent deceptive and manipulative activities.
August 11, 2023 | 5:47 pm
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POSITIVE IMPACT
Several companies have revised their applications to include Coinbase Global Inc as a surveillance-sharing ally, which could potentially impact Coinbase's stock price.
The inclusion of Coinbase as a surveillance-sharing ally in ETF applications could potentially increase investor confidence in the company, leading to a positive impact on Coinbase's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
ARK Investment Management's ETF proposal has been delayed by the SEC, which could potentially impact investor sentiment and the company's stock price.
The delay in the SEC's decision on ARK's Bitcoin ETF proposal could lead to uncertainty among investors, potentially negatively impacting ARK's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The delay in the SEC's decision on the Bitcoin ETF could potentially impact the price of Bitcoin.
The delay in the SEC's decision could create uncertainty in the market, potentially leading to a negative impact on the price of Bitcoin in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 75