The US Securities and Exchange Commission (SEC) rejected Ark 21Shares’ spot Bitcoin ETF offer.
SEC rejects Ark 21Shares’ spot Bitcoin ETF application, citing a lack of investor protection.
Ark Investment Management and investment products firm 21Shares teamed up last July for the Bitcoin ETF product. Ark 21Shares’ initial filing was repeatedly delayed by the SEC.
At the beginning of March, the SEC delayed its decision on both WisdomTree’s and One River Asset Management’s spot Bitcoin ETF offerings. Prior to that, the regulator rejected spot bitcoin ETF offers from NYDIG and Global X, as well as sports bitcoin ETF offers from Fidelity, First Trust, Kryptoin, and Van Eck.
Some analysts from Bloomberg Intelligence have said that spot Bitcoin ETFs could start gaining approval by mid-2023, given the planned change to an SEC rule redefining exchanges.
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