The extension of the deadline for the ARK 21Shares Bitcoin-backed ETF aims to boost confidence in the cryptocurrency market and provide a more stable investment environment.
The US Securities and Exchange Commission (SEC) has extended the deadline for the ARK 21Shares Bitcoin-backed ETF to January. This move aims to provide more time for evaluation and review before making a final decision. The extension came at the request of ARK 21Shares, which is working on launching an exchange-traded fund for Bitcoin backed by cryptocurrencies.
This additional period aims to enable the SEC to gather more information and conduct a comprehensive assessment of the Bitcoin fund before making a final decision. This extension is expected to contribute to increasing confidence in the cryptocurrency market and providing a more stable environment for investment in this sector.
It is worth noting that this decision comes amid increased interest from investors in Bitcoin and cryptocurrencies, amidst ongoing legal and regulatory developments in this field. The ARK 21Shares fund is expected to benefit from this extension, as it will give the SEC more time to consider security and regulatory aspects before making a final decision.