Cathie Wood’s ARK Invest is on tenterhooks because the final choice deadline for its Bitcoin Spot ETF idea draws near, slated for the tenth of January 2024. With the U.S. Securities and Exchange Commission (SEC) doubtlessly putting a new precedent within the crypto ETF landscape, enterprise insiders posit a simultaneous approval technique for all spot ETFs.
Given the SEC’s historically regular method, it’s far extensively believed that if they greenlight one Bitcoin Spot ETF, others in the pipeline may even acquire approval simultaneously. In such a scenario, ARK Invest’s ETF getting declined while BlackRock’s equivalent receives recognition in a short span is taken into consideration not likely.
With the January tenth, 2024 deadline approaching, there may be growing speculation that the SEC may be pressed to deliver their selections on all looking ahead to ETFs before this date. However, the exact date remains elusive, with predictions hinting at a marvel announcement someday this year.
This capacity move by using the SEC could mark a extensive step in integrating cryptocurrencies into conventional economic structures, ushering in a brand new technology of institutional funding opportunities.
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