Marco Bello
According to a filing Friday, the U.S. Securities and Exchange Commission has extended its decision approving ARK Investment Management’s proposed exchange-traded fund that invests directly in Bitcoin (BTC-USD).
While maintaining the verification of Applications from a number of financial giants, including BlackRock (BLACK) and Fidelity Investments, Wall Street regulators have given the public at least three weeks to comment on Cathie Wood’s ARK 21Shares Bitcoin ETF, led by Ark Invest (BACK) Application.
Previously, the SEC was scheduled to make a decision by August 13.
“In summary, the Exchange believes that this proposal satisfies the requirements of Section 6(b)(5) of the Act, that this filing satisfactorily demonstrates that the CME bitcoin futures market is a regulated market of significant size, and “Overall, the manipulation concerns previously raised by the Commission are mitigated enough to be outweighed by investor protection issues that would be resolved by approving this proposal,” the SEC’s filing reads.
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