The U.S. Securities and Exchange Commission extended the window for approval of the ARK 21Shares Bitcoin exchange traded fund (ETF), originally proposed in July 2021.
According to a Tuesday filing by the SEC, the regulatory agency will extend the deadline for approving and disapproving the ARK 21Shares bitcoin ETF from February 2nd for an additional 60 days to April 3. J. Matthew DeLesDernier, SEC Assistant Secretary, noted in the filing that it was appropriate to give the regulatory body a longer time to review the proposed rule change. This will allow the ETF to be listed at the Cboe BZX Exchange.
In July 2021, the exchange filed paperwork to apply to the ARK 21Shares Bitcoin Exchange Tradeable Fund. The SEC was able to delay its decision and allow public comment for up 180 days. There is also the option of a final 60-day extension that will begin on February 2. The SEC will not be able extend the deliberation window any further after April 3.
Separately, the SEC extended its window for a proposed rule change. This would allow shares of an ETF that tracks Bitcoin futures from agricultural fund provider Teucrium, to be listed on NYSE Arca. The application was made by the firm in May 2021. It will likely be granted a final decision by the SEC by April 8.
Related: Valkyrie seeks ETF that is linked to Bitcoin mining companies on Nasdaq
Although ETFs that are directly exposed to Bitcoin (BTC), have not been approved by U.S. regulators, they gave permission to BTC derivatives-linked investment vehicles for the first time in October 2021. Current listings on Nasdaq include shares of ProShares and Valkyrie’s Bitcoin Futures-Linked Funds. VanEck’s Bitcoin Strategy ETF trades on the Chicago Board Options Exchange.