By Susie Violet Ward · Forbes · 27 September 2023
In September 2023, the US Securities and Exchange Commission postponed its decision on the ARK 21Shares Bitcoin ETF, setting a new deadline of 10 January 2024, although a decision had not been due until 11 November. The delay came shortly after US Representatives Tom Emmer, Mike Flood, Ritchie Torres and Wiley Nickel wrote to Gary Gensler, then SEC Chair, urging immediate approval of spot bitcoin ETFs as a regulated route for investors.
The article reports speculation that the delay could favour large institutions such as BlackRock while hindering platforms like Binance, and links it to banks such as Chase UK withdrawing crypto services. It compares the situation with the early internet’s path to regulation, notes that a decision on a Global X application was due on 7 October, and warns that further delays could slow momentum in the market.