After having given an early decision on the ARK Invest 21Shares spot Bitcoin Exchange Traded Fund (ETF) filing, the U.S. Securities and Exchange Commission (SEC) has in a fresh development delayed the filings from Blackrock and Bitwise. Hence, the chances of a spot Bitcoin ETF approval in 2023 may effectively be nullified.
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Blackrock Dominance
The crypto community and financial analysts were unanimously betting on Blackrock to get the ETF approval the quickest among all filings considering the wide dominance the investment manager enjoys across sectors in the United States and beyond. With the Blackrock filing getting the delay, this makes it three filings out of a total of seven to have gotten the response from US SEC. An update from the agency said,
“Order instituting proceedings to determine whether to approve or disapprove a proposed rule change to list and trade shares of the iShares Bitcoin Trust.”
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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