U.S. SEC delays ruling on ARK 21Shares spot-Bitcoin ETF until 2023

Cathie Wood's Ark Invest and 21Shares filing for a spot-Bitcoin ( BTC-USD ) exchange traded fund has been put on hold until 2023. On Tuesday, the U.S. Securities and Exchange Commission announced that it had delayed its decision on whether to permit a spot bitcoin exchange-traded fund into the marketplace. Regulators punted on making an official ruling to list such a fund on the Cboe Global Markets until January 27, 2023. The postponed judgment on the ARK 21Shares Bitcoin ETF comes after officials have already rejected such ETFs that track the popular digital token by other issuers including NYDIG, Grayscale, and Fidelity. A spot-Bitcoin ETF refers to a fund that holds actual Bitcoin inside of an ETF wrapper versus funds that are based on the futures market like the ProShares Bitcoin Strategy ETF ( NYSEARCA: BITO ), Valkyrie Bitcoin Strategy ETF ( NASDAQ: BTF ), and the VanEck Bitcoin Strategy ETF ( BATS: XBTF ). Additionally, the news comes as Bitcoin is under heavy pressure as it traded below the $17K marker on Tuesday afternoon. Bitcoin has now declined 20% since the beginning of last week and has dropped 64.5% over the course of 2022. In related crypto news, Cathie Wood, a longtime Bitcoin optimist maintained her bullish stance on the cryptocurrency as the asset manager grabbed more than 300K shares of the tumbling Grayscale Bitcoin Trust on Monday.