The United States Securities and Exchange Commission has delayed its ruling on the ARK 21Shares spot Bitcoin exchange-traded fund (ETF) application. Meanwhile, Worldcoin now allows unverified users to reserve WLD tokens for 12 months, and Gemini has become the latest major exchange to relist XRP (XRP) following the July ruling in the SEC v. Ripple case.
SEC delays decision on ARK 21Shares spot Bitcoin ETF
In a move that surprised few people in the crypto industry, the United States Securities and Exchange Commission has delayed its ruling on a spot Bitcoin ETF application submitted by ARK Investment Management.
The SEC’s Aug. 11 notice opened a 21-day comment period for the ARK 21Shares Bitcoin ETF — an application that was initially submitted in May. The securities regulator now has until January 2024 to reach a final decision on whether to approve or deny the spot Bitcoin ETF application.
The SEC gave its usual justification for pushing back the approval process, noting:
“The regulated market of significant size test does not require that the spot bitcoin market be regulated in order for the Commission to approve this proposal, and precedent makes clear that an underlying market for a spot commodity or currency being a regulated market would actually be an exception to the norm.”
Today on @BloombergTV’s ETF IQ @CathieDWood agreed with our assessment (below) that if spot #Bitcoin ETFs are approved by the SEC, it will be multiple at the same time and not just one. https://t.co/oNOeqs4HDL pic.twitter.com/K18qFNOtQL
— James Seyffart (@JSeyff) August 7, 2023
As Cointelegraph reported, ARK Investment Management founder Cathie Wood predicted earlier this week that the SEC would eventually approve multiple spot Bitcoin ETF applications at the same time.
Worldcoin opens up WLD reservations for unverified users
The iris-scanning crypto project Worldcoin has now made it possible for even unverified customers to reserve WLD (WLD) tokens.
The World App now offers a reservations feature to make it easier for everyone to reserve their WLD tokens before verifying their World ID, as shown in the image below.
The Worldcoin project consists of three key elements: the World ID, the World App and WLD token. Users willing to scan their iris to create a biometric data-based ID system are rewarded with WLD tokens.
XRP briefly hits $50 on Gemini as users suspect “price glitch”
Crypto users have reported seeing “wonky” prices for Ripple’s XRP token on the Gemini crypto exchange, only hours after the exchange relisted the token on its platform for trading.
Several crypto community members on X (formerly known as Twitter) on Aug. 11 posted screenshots of what many have described as a “price glitch” that has seen XRP’s displayed price on the exchange rise above $1 a number of times, even spiking to $50 on one occasion.
Wow. Current price of $XRP on @Gemini. Is this a glitch? pic.twitter.com/Nbzro1ahlW
— Yassin Mobarak (@Dizer_YM) August 11, 2023
However, some observers suggest it may be the result of a thin order book and low liquidity, given the recent relisting.
Gemini announced it had made XRP available again for trading on the crypto exchange on Aug. 10.
It comes after United States District Court Judge Analisa Torres ruled in Ripple’s case against the Securities Exchange Commission that XRP is not a security when sold on exchanges.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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