Bitcoin ETF Decision Nears: January 10th Marks Crucial Date for ARK $BTC Spot ETF Approval

The post Bitcoin ETF Decision Nears: January 10th Marks Crucial Date for ARK $BTC Spot ETF Approval appeared first on Coinpedia Fintech News

The SEC has again pushed back the approval of Spot Bitcoin applications for industry giants such as BlackRock, Fidelity Investments, ARK Investment Management, VanEck, and more. Now, everyone’s got their eyes on the third deadline, and there’s a big one on January 10th as the final deadline for ARK Investment Management.

Bitcoin Jumps on False BlackRock ETF Approval

On October 17th, a false report suggested that the U.S. SEC had approved BlackRock for a spot Bitcoin ETF. This news triggered a rapid surge in Bitcoin prices, driving them to reach as high as $30,106, marking a notable 10% increase.

Further, a BlackRock spokesperson, in response to the incident, informed MarketWatch that their iShares Bitcoin ETF application is “still under review by the SEC,” indicating that it had not yet received the official go-ahead.

January 10th Deadline Shapes ARK $BTC Spot ETF’s Future

Earlier, the SEC said yes to Bitcoin futures ETFs, which is a good sign.  This ETF has not been approved, but January 10th is when the Securities and Exchange Commission (SEC) may provide the verdict that could change the crypto landscape.

This is the deadline for the SEC to respond to the spot Bitcoin ETF application submitted by ARK Invest and 21Shares. Many analysts believe there’s a 90% chance of approval by Ark’s January 10th deadline. It could be a big deal if the ARK Bitcoin ETF gets approved.

Additionally, the SEC reviews applications from BlackRock, Fidelity Investments, Wisdomtree, VanEck, and more. These applications face an extended deadline of March 15 of the following year.

Now, all eyes are on January 10th, which could potentially mark a significant milestone in cryptocurrency.