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SEC delays decision on Ark Investment's proposed Bitcoin ETF

The US Securities and Exchange Commission (SEC) has delayed its decision on the proposed spot Bitcoin ETF by Ark Investment Management. The SEC announced a 21-day comment period for the ARK 21Shares Bitcoin ETF in a statement on August 11. The company first applied for a spot Bitcoin ETF in May. The SEC has until January 2024 to make a final decision and noted that regulation of the spot Bitcoin market is not a requirement for approval. Other large firms, including BlackRock, have also applied for spot Bitcoin ETFs, and some have updated their applications to include Coinbase as a custodian.

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