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Apr 29, 2021 03:21 GMTCrypto News
The Securities and Exchange Commission has made a filing confirming that the decision on VanEck Bitcoin ETF will be delayed.
Currently, Grayscale Bitcoin Trust holds most of the shares in institutional investment in the cryptocurrency-related product.
Approval of the Bitcoin ETF would provide a more stable alternative to GBTC, providing a gateway for institutional money flow into the market.
The Securities and Exchange Commission (SEC) has decided to extend its decision on VanEck and Cboe’s application to list a Bitcoin exchange-traded fund (ETF).
SEC to make a decision in June
VanEck filed the latest application for a Bitcoin ETF in December 2020. The SEC started the 45-day clock when Cboe filed to list the product. According to the securities regulator, it will extend the decision window by another 45 days.
Cathie Wood-led Ark Investment Management sold another 140,682 shares of the payments company
Square Inc (NYSE:SQ), estimated to be worth $35.7 million as of Tuesday s close, as it looks to rebalance its portfolio.
The investment firm’s Ark
Next Generation Internet ETF (NYSE:ARKW) sold 30,000.
The hedge fund counts Square among its top five holdings. It is ARKF’s largest holding representing a 10.9% weight of the ETF, not accounting for Tuesday s trade. ARKF held a total of 1.81 million shares worth about $464.24 million, as of Tuesday morning.
Square is ARKW’s third-largest holding behind
Tesla Inc (NASDAQ:TSLA) and
Grayscale Bitcoin Trust (OTC:GBTC). ARKW held a total of 1.34 million shares, worth about $343.84 million, as of Tuesday.
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