SEC’s Bitcoin ETF Signals Delay, Could an Early Decision Surprise?

• The second deadline for a Bitcoin ETF decision is expected on August 13.
• However, experts say a delay is likely.
• The final deadline for the SEC to decide on ARK ETF is January 10, 2024.

Alex Krüger, a well-known Bitcoin trader, recently took to X (Twitter) to share his insights on the impending decision regarding Bitcoin exchange-traded fund (ETF) amid a looming deadline.

Krüger cautioned that there is a high likelihood of a delay in the upcoming Bitcoin ETF news. He noted that such a delay is widely anticipated and already factored into current market prices.

However, Krüger also highlighted that if the U.S. Securities and Exchange Commission (SEC) were to approve or reject the ARK ETF, it could lead to a significant price surge with sustained momentum.

Krüger’s response came after asset manager and ETFs update specialist James Seyffart shared a timeline update on X. Seyffart stated that the next SEC deadline for Bitcoin ETFs, specifically ARK Invest’s proposal in partnership with 21co, is set for August 13.

Seyffart pointed out that since this deadline falls on a Sunday, a decision could be expected as soon as the following day. He expressed his prediction that the market should brace for a delay, a sentiment that is widely shared among experts.

Despite this, he acknowledged the technical possibility of the SEC making a decision even earlier. “Technically, there’s nothing stopping us from seeing a decision today, though,” the ETF analyst proclaimed in a tweet.

It is worth mentioning that the first deadline for the SEC comment on ARK Invest’s proposal has already elapsed. While the second deadline is this Sunday, the decision timeline has two more phases. In particular, the third and final deadline is November 11 and January 10, 2024, respectively.

Meanwhile, as Coin Edition reported, industry experts have argued that the crypto community can expect a Bitcoin ETF approval within the next six months.