🧵 1. SEC delays decision on ARK 21Shares Bitcoin ETF, opens comment period. Another setback in the US for spot crypto ETF approval. #crypto
🧵 1. SEC delays decision on ARK 21Shares Bitcoin ETF, opens comment period. Another setback in the US for spot crypto ETF approval. #crypto
🧵 2. ARK's proposal gives SEC 240 days to decide. Comprehensive surveillance-sharing agreement required for listing on Cboe BZX Exchange.
🧵 3. SEC rejects ARK's previous crypto ETF proposals due to concerns of fraud and investor protection. Spot bitcoin market regulation not a requirement for approval.
🧵 4. Cathie Wood predicts SEC delay but expects approval for multiple spot BTC ETFs in the future.
🧵 5. BlackRock and other firms also applying for spot crypto ETF listings. Adding Coinbase as surveillance-sharing partner could boost approval chances.
🧵 Read more at: https://cointelegraph.com/news/sec-punts-ark21shares-spot-bitcoin-etf-opens-proposal-comments