The US Securities and Exchange Commission has expanded its window to approve the ARK 21Shares Bitcoin Exchange Fund (ETF), which was originally proposed in July 2021.

The regulator will delay the deadline to approve or reject the ARK 21Shares bitcoin ETF from February 2 for an additional 60 days to April 3, according to a SEC report released on Tuesday. It was “appropriate to specify a longer period” for the regulator to consider the proposed rule change so that the ETF could be listed on the Cboe BZX exchange.

The exchange initially filed filing documents for the ARK 21Shares Bitcoin ETF in July 2021, with the SEC able to delay its decision and open the proposal for public comment up to 180 days, with a possible 60-day eventual extension. 2. February. After April 3, the Securities and Exchange Commission will not be able to expand the evaluation window and approve or reject crypto-traded funds.

In a separate report, the Securities and Exchange Commission (SEC) also expanded its window for a proposed rule change so that stocks could be included in an ETF that tracks bitcoin futures from NYSE’s agricultural finance provider Teucrium Arca. The company filed for an investment in May 2021 and is likely to receive a final decision from the Securities and Exchange Commission by April 8.

Related: Valkyrie targets ETFs linked to bitcoin miners on Nasdaq

US regulators have not yet approved ETFs with direct access to cryptocurrencies such as Bitcoin (BTC), but they gave the green light for investment vehicles linked to BTC derivatives for the first time in October 2021. As of press time, the Bitcoin-linked fund shares Valkyrie futures contracts ProShares is currently listed on the Nasdaq, while VanEck’s Bitcoin Strategy ETF is listed on the Chicago Board Options Exchange.

Source: CoinTelegraph

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