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Approaching SEC decision on ARK's Bitcoin ETF

September 6, 2023

The U.S. Securities and Exchange Commission (SEC) will soon issue a decision on ARK's Bitcoin ETF application, with Cathie Wood at the helm. Although the decision is expected to be officially announced on Aug. 13, there are indications that it may happen as early as Aug. 12.

Future scenarios and market expectations

Cathie Wood, CEO of ARK Investment Management, had previously indicated she might be the first to receive approval for a direct Bitcoin ETF. However, she has now indicated that the SEC may approve multiple direct Bitcoin ETFs at the same time. However, rumors are circulating that the SEC could further delay decision-making on these ETFs. In general, there are three possible scenarios regarding the SEC's decision: they can approve the Bitcoin ETF, reject it or delay the decision.

Many market experts believe that an approval of the ETF could have a positive effect on prices, as it would give the cryptocurrency market more legitimacy and accessibility for traditional investors. However, a rejection could provoke the opposite reaction, resulting in possible price declines. On the other hand, if the SEC decides to delay the decision, it could lead to further uncertainty in the market, causing both upward and downward price movements, depending on overall market sentiment and other global economic factors.

Future and interest in Bitcoin ETFs

Currently, there is no direct Bitcoin ETF available in the US. Companies such as BlackRock, Bitwise, VanEck and WisdomTree have also expressed interest and submitted applications. If a Bitcoin ETF is approved, it could lead to significant demand.

The SEC's upcoming decision will undoubtedly set the tone for the future of Bitcoin ETFs in the US.