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Finance

SEC Delays Decision on Bitcoin-Related ETFs From Ark 21 Shares, Teucrium

Investment firms are still trying to get bitcoin ETFs approved by the U.S. regulator.

By Michael Bellusci
AccessTimeIconJan 26, 2022 at 4:42 p.m. UTC
Updated May 11, 2023 at 7:14 p.m. UTC
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The U.S. Securities and Exchange Commission (SEC) has again delayed decisions on whether to approve or reject bitcoin-related exchange traded funds (ETF) from Ark 21 Shares and Teucrium.

  • The SEC said in a filing Tuesday it was postponing a decision on the ARK 21Shares Bitcoin ETF until April 3.
  • In a separate filing, the regulator said it’s delaying its decision on the Teucrium Bitcoin Futures Fund to April 8.
  • SEC Chairman Gary Gensler reiterated his support last autumn for a narrow class of bitcoin ETFs investing in futures contracts rather than the cryptocurrency itself. Earlier this month the SEC put off a decision on NYDIG’s proposal for a spot bitcoin ETF as well as ETFs from Valkryie, Grayscale and Bitwise.
  • The regulator has also rejected spot bitcoin ETF proposals from a number of investment companies, including VanEck, WisdomTree and Kryptoin.
  • Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.
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    • Read more: SEC Rejects First Trust SkyBridge's Spot Bitcoin ETF Proposal

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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    Michael Bellusci

    Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

    Follow @mikeybellusci on Twitter

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