The SEC didn't wait until a Nov. 11 deadline to decide to designate a longer period on whether to approve or disapprove listing ARK 21Shares’ spot Bitcoin ETF.
until Nov. 11 to decide whether to approve, disapprove, or again defer on a decision.
It’s unclear why the SEC chose to designate a longer period to determine the fate of the spot Bitcoin ETF 45 days ahead of the deadline. The regulator has usually waited until a few days before any deadline to file a delay. With the additional 60 days to consider ARK 21Shares’ offering, the SEC’s final deadline will be Jan. 10 — 240 days after the application was filed in May 2023.
“The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change [...] and the issues raised therein,” said the SEC.
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