SEC Delays Decision on Bitcoin ETF

The SEC has delayed another decision in regards to allowing ARC Invest and crypto investment firm 21Shares Bitcoin ETF to begin trading.

In a notice released on Tuesday the SEC revealed that ARK 21Shares ETF would get an answer on August 30 “The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” the notice said.

The SEC has already rejected this proposal back in April, as it has with any spot market Bitcoin ETF that has come before, but ARK Invest applied once again.

An ETF is an investment vehicle that gives investors exposure to an asset without holding it themselves, buying shares from a company that represents the asset.

Bitcoin ETFs that track the price of cryptocurrencies became one of the only ways traditional investors could get exposure to Bitcoin in the U.S, due to the SEC slow approval of Bitcoin Spot ETFs.

As the market wobbles through these times, courageous traders may think they know exactly where the price of Bitcoin is going, these investment vehicles give these individuals a variety of ways to get involved in the space, while feeling safe on more traditional platforms.

This past October the SEC finally approved the first Bitcoin futures ETF