US SEC نے Ark Invest Bitcoin ETF درخواست پر فیصلہ میں تاخیر کی: رپورٹ

The US SEC delays decisions on the Ark Invest BTC ETF application and said they will announce their decision by the end of August so let’s read more today in our cryptocurrency خبریں.

Ark Investment Management is a company led by fund manager Cathie Wood that will have to wait longer than expected to hear the decision by the US SEC on whether they can launch a spot Bitcoin Exchange-Traded Fund. The company displayed ambitions to introduce a new product that will track the performance of the main cryptocurrency and it already sought approval to list the BTC ETF on the CBOE Global Markets. Ark Invest added:

"اپنے سرمایہ کاری کے مقصد کو حاصل کرنے کی کوشش میں، ٹرسٹ بٹ کوائن رکھے گا اور انڈیکس کی بنیاد پر روزانہ شیئرز کی قدر کرے گا۔ ٹرسٹ مجاز شرکاء کے ساتھ لین دین میں تمام تخلیقات اور چھٹکارے پر کارروائی کرے گا۔ ٹرسٹ فعال طور پر منظم نہیں ہے۔

According to the coverage by Reuters, the US SEC delays the decision on Ark Invest until August 30 and it was worth noting that the financial watchdog hasn’t been so kind to Ark Invest in the past. It rejected preivous spot BTC ETFs due to lack of investor protection as a reason. Apart from denying the Ark Invest one, the SEC dismissed other applications from companies like NYDIG and گرے. After the rejection, Grayscale CEO Michael Sonnenshein said his company filed a legal case against the regulator arguing that the SEC acted against the Administrative Procedure Act.

As previously reported, The ETF or exchange-traded fund is a type of investment product that is tied to currencies, commodities, stocks, or bonds. In the case of BTC spot ETF, the companies tried to register and have the value of shares tied to the price of BTC. It will allow investors to participate in crypto markets without having to buy and sell BTC themselves. With BTC futures ETFs, the share price is tied to the derivatives or speculative bets about what Bitcoin’s price will do. So far, the SEC approved a few futures ETFs including the ones of Valkyrie Bitcoin Strategy and ProShares Bitcoin Strategy ETFs.