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US SEC delays decision on Cathie Wood's spot bitcoin ETF

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The U.S. Securities and Exchange Commission (SEC) has delayed a decision on whether to approve Cathie Wood-led Ark Investment Management's (ARK) spot bitcoin exchange-traded fund (ETF), a filing by the regulator showed on Friday.

The SEC is seeking public comment on the Ark 21Shares Bitcoin ETF application, and has pushed back the decision date by several weeks to potentially months. It was previously due to make a decision by Aug. 13.

dozens of applications for spot bitcoin ETFs, publicly traded investment vehicles that directly track bitcoin price, citing inadequate level of trading surveillance that could leave the underlying spot market subject to fraud and manipulation.that track the price of bitcoin futures contracts have been allowed by regulators since October 2021.

 

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