Best Crypto to Buy Now 11 August – Fantom, Rocket Pool, Sui
The U.S. Securities and Exchange Commission (SEC) has opted to postpone its decision on Ark Invest's proposal for a Bitcoin ETF, continuing a longstanding challenge for cryptocurrency assets seeking inclusion on mainstream U.S. financial platforms.
The SEC announced on Friday its move to solicit public opinion regarding a particular amendment in the Ark 21Shares Bitcoin ETF application, potentially prolonging the decision-making process into 2024.
Taking this developing macroeconomic scenario into account, what are the best cryptos to buy now?
The application deadline was initially set for Aug. 13. This recent development adds another layer of complexity to a series of previous delays and deliberations surrounding crypto-related financial instruments.
Cathie Wood, CEO of Ark Invest, shared her perspective with Bloomberg News earlier this week, stating her anticipation that the SEC might consider rulings on multiple fund applications simultaneously.
Other financial giants have also expressed interest in this avenue, with filings for Bitcoin ETFs already in place from industry leaders such as BlackRock and WisdomTree.
Grayscale finds itself in legal limbo, awaiting a court's ruling. Their application, which proposed the transformation of the Grayscale Bitcoin Trust into an ETF, has met rejection from the SEC multiple times.
Earlier this year, the Cboe BZX Exchange submitted a proposal to the SEC, seeking a rule modification to accommodate the Ark21 spot bitcoin fund listing.
This proposal has undergone several revisions, incorporating a surveillance-sharing stipulation similar to the one in BlackRock's Bitcoin fund application.
Past endeavors to establish a spot in Bitcoin ETF have often met with refusal. This year saw SEC Chair
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