The efforts from Ark 21Shares and Global X to list spot bitcoin exchange traded funds (ETFs) must now officially wait longer for the U.S. Securities and Exchange Commission (SEC) to either approve or reject or deny their applications as the agency moved to extend deadlines Tuesday.
As the federal government braces for a potential shutdown brought about by a budget impasse in Congress, the securities regulator extended its next deadlines for the two applications well before the interim deadlines arrived. The SEC has a total of 240 days to make a final decision on any application after it starts reviewing, but there are a number of potential time marks during that period in which it has to do certain things or extend the time it’s allowed.
‘Enforcement 40’ for 2020
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