Crypto:
29881
Bitcoin:
$68.571
% 0.83
BTC Dominance:
%52.7
% 0.31
Market Cap:
$2.57 T
% 0.03
Fear & Greed:
75 / 100
Bitcoin:
$ 68.571
BTC Dominance:
% 52.7
Market Cap:
$2.57 T

SEC postpones ARK21Shares and VanEck ETF Applications!

SEC ARK21Shares VanEck ETF

The SEC has postponed the decision on the Spot Ethereum ETF applications filed by 2 companies, ARK21Shares and VanEck.


▪️ The SEC, in its statement following this decision, stated that “The Commission finds it appropriate to set a longer period in order to have sufficient time to assess the proposed changes and any problems that may arise in relation to this.” In addition, ARK21Shares and VanEck have also postponed their ETF applications by the SEC.

▪️ Evaluation process for ETF applications should be completed within a maximum of 240 days from the date of entry to the Federal Register.


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▪️ Therefore, the SEC could postpone a decision on current applications until the end of 2024. Additionally, considering additional requests for public feedback, there is a chance that they might further delay this decision.

▪️ Typically, the SEC can delay decisions by fully using the 240-day period. Therefore, decisions on ETF applications from companies like BlackRock, WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise, and Valkyrie Digital Assets are expecting to be take by mid-October.

▪️ This postponement process leads to a waiting period among investors and companies while allowing for a more detailed examination of applications. While waiting for the results of ETF applications, we will be closely monitoring the upcoming months to see how financial markets will react to these developments.


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