SEC extends decision date on ARK 21Shares Bitcoin ETF

The U.S. Securities and Exchange Commission has extended making a decision on whether to approve the ARK Investment Management's proposed exchange-traded fund that invests directly in bitcoin ( BTC-USD ), according to a filing dated Friday. While keeping up its review of applications from a slew of financial giants, including BlackRock ( BLK ) and Fidelity Investments, the Wall Street regulator has given the public at least three weeks to comment on Cathie Wood-led Ark Invest's ARK 21Shares Bitcoin ETF ( ARKA ) application. The SEC was previously slated to make a decision by August 13. "In sum, the Exchange believes that this proposal is consistent with the requirements of Section 6(b)(5) of the Act, that this filing sufficiently demonstrates that the CME Bitcoin Futures market represents a regulated market of significant size, and that on the whole the manipulation concerns previously articulated by the Commission are sufficiently mitigated to the point that they are outweighed by investor protection issues that would be resolved by approving this proposal," the SEC's filing said . More on spot bitcoin ETFs: The Potential Impact Of BlackRock's Bitcoin ETF On Coinbase Stock BlackRock's ETF Filing Could Be Good For The Grayscale Bitcoin Trust BlackRock files for bitcoin ETF; Coinbase as custodian Fidelity officially files for spot bitcoin ETF in second attempt