US SEC delays decision on Cathie Wood's spot bitcoin ETF

The US Securities and Exchange Commission has delayed a decision on whether to approve Cathie Wood-led Ark Investment Management's spot bitcoin exchange-traded fund , a filing by the regulator showed on Friday.

The regulator has in recent years rejected dozens of applications for spot bitcoin ETFs, publicly traded investment vehicles that directly track bitcoin price, citing inadequate level of trading surveillance that could leave the underlying spot market subject to fraud and manipulation. Interest from major financial institutions has helped revive the crypto markets in recent months that had been in the doldrums after a series of high-profile firms collapsed last year including Sam Bankman-Fried's FTX.

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