The regulative body same it absolutely was "appropriate to designate a extended period" to approve or disapprove of the proposed Bitcoin ETF.
The U.S. Securities and Exchange Commission has extended its window to approve the ARK 21Shares Bitcoin exchange-traded fund (ETF) originally projected in July 2021.
According to a Tuesday filing from the SEC, the restrictive body can push the point in time for approving or unfavorable the ARK 21Shares Bitcoin ETF from Feb. two for an extra sixty days, to April 3. SEC Assistant Secretary J. Matthew DeLesDernier noted within the filing that it had been “appropriate to designate a extended period” for the restrictive body to think about the projected rule amendment, permitting the ETF to be listed on the Cboe BZX Exchange.
The exchange originally filed the work to use for the ARK 21Shares Bitcoin ETF in July 2021, with the SEC ready to delay its call and open the providing to public comment for up to 180 days, with the choice for a final 60-day extension beginning on Feb. 2. when April 3, the SEC should not be ready to extend the deliberation window further and will approve or disapprove of the crypto ETF.
In a separate filing, the SEC additionally extended its window on a projected rule change, allowing shares of an ETF following Bitcoin futures from agricultural fund provider teucrium to be listed on stock market arca. The firm applied for the investment providing in could 2021 and can doubtless receive a judgement from the SEC by April eight.
(Turner Wright, Cointelegraph, 2022)