U.S. Securities and Exchanges Commission (SEC) Opens Potential Bitcoin Spot ETFs to Public Opinion
The U.S. Securities and Exchange Commission (SEC) is opening up the potential creation of ARK Invest’s spot market Bitcoin (BTC) exchange-traded funds (ETFs) to public opinion.
In a new document, the regulatory agency is asking the public to submit their “written data, views, and arguments” on a proposed rule change that would allow the Chicago Board Options Exchange (CBOE) to list and trade shares of the ARK 21 Shares Bitcoin ETF.
“The Commission is instituting proceedings pursuant to Section 19(b)(2)(B) of the Act97 to determine whether the proposed rule change, as modified by Amendment No. 3, should be approved or disapproved…
The Commission seeks and encourages interested persons to provide comments on the proposed rule change, as modified by Amendment No. 3…
Interested persons are invited to submit written data, views, and arguments regarding whether the proposed rule change, as modified by Amendment No. 3, should be approved or disapproved by [September 2nd]. Any person who wishes to file a rebuttal to any other person’s submission must file that rebuttal by [September 15th].”
In a recent interview with Bloomberg Television, ARK Invest CEO Cathie Wood predicted the SEC would delay the August 13th deadline to approve its BTC ETF. She also said that if the regulatory body would approve a BTC ETF, it would greenlight many at the same time.
“August 13th will come and go. I think the SEC, if it’s going to approve a Bitcoin ETF, will approve more than one at once… Because most of these essentially will be the same, it will come down to marketing, communicating the message.”
Bitcoin is trading for $29,378 at time of writing, a fractional decrease during the last 24 hours.
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Author: Mehron Rokhy
