Recently, ETF analyst James Seyffart has indicated that the eagerly awaited decision pertaining to the ARK 21Shares Bitcoin ETF could potentially be unveiled by the conclusion of tomorrow. With numerous inquiries flooding his direct messages and public mentions in recent days, Seyffart has shed light on the timeline surrounding the upcoming decision.
Notably, the upcoming deadline set by the U.S. Securities and Exchange Commission (SEC) for Bitcoin-related exchange-traded funds is associated with ARK Invest and 21Shares, falling on the 13th of August.
Although this deadline falls on a Sunday, Seyffart has speculated that market participants might receive the decision as early as tomorrow, factoring in the preceding business day’s close. Seyffart has candidly shared that the prevailing sentiment among observers is one of anticipation for a potential delay in the decision.
However, he also underscored that from a technical standpoint, there exists no hindrance preventing the decision from being made known today itself.
Community Perspectives On ARK 21Shares Bitcoin ETF Decision
In the midst of the anticipation surrounding the ARK 21Shares Bitcoin ETF decision, community members have chimed in with their perspectives. One individual expressed that the prevalent expectation already leans toward a delay, and they’re keen to observe the potential market reaction.
Responding to this, Seyffart humorously mused that if the markets were to exhibit an unconventional response to a delay, it could be an indicator that a substantial number of individuals disregard his, as well as experts like Eric Balchunas and Nate Geraci’s insights on the matter.
In another exchange, a community member asked Seyffart to estimate the likelihood of approval for the following day. Speculating on the chances, Seyffart conveyed that he perceives the probability of approval as slightly higher than that of denial. Nonetheless, he playfully added that both approval and denial chances hold significance levels below 5%.
Additionally, a participant sought clarification on whether the process operates similarly to futures markets. They queried if the absence of any comment from the SEC would automatically trigger the commencement of trading on Monday.
Seyffart clarified that this isn’t the case, as the procedures are distinct. He explained that the SEC is expected to provide a formal “letter” or response as part of its decision-making process rather than a mere absence of comment.
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