SEC Postpones Decision on ARK 21Shares Bitcoin ETF; Worldcoin and Gemini Make Bold Moves

SEC Postpones Decision on ARK 21Shares Bitcoin ETF; Worldcoin and Gemini Make Bold Moves

SEC Delays Verdict on ARK 21Shares Bitcoin ETF Submission

The United States Securities and Exchange Commission has yet again deferred its judgement on the application submitted by ARK Investment Management for a spot Bitcoin exchange-traded fund (ETF). This move was anticipated by many within the crypto sphere.

The securities regulator published a notice on August 11, commencing a 21-day period for comments on the ARK 21Shares Bitcoin ETF, an application that ARK Investment Management first lodged in May. The SEC now has till January 2024 to render a binding verdict on the spot Bitcoin ETF application.

The usual explanation was offered by the SEC for the delay, stating that it needed more time for complete reviews and feedback. Cathie Wood, the founder of ARK Investment Management, expressed confidence earlier this week that the SEC would eventually confirm a handful of spot Bitcoin ETF applications at one go.

Worldcoin Promises Unverified Customers WLD Reservations

Worldcoin, a highly innovative cryptoproject that uses iris-scanning technology, is now making WLD (WLD) token reservations available to even unregistered users.

Worldcoin's mobile application has now incorporated a new feature for reservations, allowing users to reserve their WLD tokens before validating their World ID. This is a part of the three main components of the Worldcoin project - the World ID, the World application and WLD tokens, wherein users are compensated with WLD tokens for voluntary iris scanning to form a unique ID system based on biometric data.

As Gemini Relists XRP, “Price Glitch” Creates Buzz

Only hours after Ripple's XRP token was reintroduced for trading on the Gemini crypto exchange, reports came in of abnormal prices for the XRP token. Some users of X (formerly known as Twitter) shared captures of what seemed like a “price glitch”, with the displayed XRP price frequently ascending above $1 and even reaching $50 on one occasion.

Some crypto analysts believe this could be due to a sparse order book or minimal liquidity, considering the recent relisting. The US-based exchange announced the return of XRP to its trading roster on August 10, following a decisive ruling by Judge Analisa Torres of the United States District Court in Ripple’s case against the Securities Exchange Commission. The verdict stated that XRP is not a security when traded on exchanges.