The U.S. Securities and Exchange Commission (SEC) has announced a postponement in its decision on the Ark Investment Management-backed spot Bitcoin Exchange-Traded Fund (ETF) application. The SEC cited concerns about the level of trading surveillance and the potential for fraudulent activities and market manipulation in the underlying spot market. The decision, previously expected by August 13, 2023, has been delayed, and the SEC is seeking public comments regarding the Ark 21Shares Bitcoin ETF application. While futures-based Bitcoin ETFs have been allowed for the past few years, the spotlight is on spot Bitcoin ETFs, which directly track the BTC price, and large financial services providers’ growing interest has been shaping the evolving crypto-asset markets. The collaborative application for a spot Bitcoin ETF was submitted by Cathie Wood’s ARK and 21Shares US LLC in 2021, indicating the significance of such products in the crypto ecosystem.