##  [# Odds & Ends: ARK Spot Bitcoin ETF Delayed ](/sections/daily-etf-watch/odds-ends-ark-spot-bitcoin-etf-delayed) 

 

# Odds & Ends: ARK Spot Bitcoin ETF Delayed 

 

 

Plus, the SEC fined Wells Fargo and others for not keeping records of business communications.



 

 

 

 

 [![GabeAlpert310x310](/sites/default/files/styles/author_image_icon/public/2023-08/GabeAlpert310x310.png?itok=LtV5mb0-)](/authors/gabe-alpert) 

[By Gabe Alpert](/authors/gabe-alpert)

 Aug 11, 2023

 Edited by: Lisa Barr

 

 

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This week was the final one before Aug. 13, when the SEC was expected to announce whether it would approve the spot bitcoin ETF filing by ARK Investment Management.

However, today the SEC announced it would delay its decision on the firm’s filing. This confirms what ARK’s Chief Investment Officer Cathie Wood [said](https://www.etf.com/sections/news/cathie-wood-sec-will-likely-approve-spotcoins-simultaneously) she expected in an interview with Bloomberg.

In the interview, Wood changed from her previously expressed belief that her firm would be the first to have its spot bitcoin ETF approved, saying she expects all spot bitcoin ETFs to be approved at the same time.

The SEC also made news this week when it, along with the Commodity Futures Trading Commission, fined financial firms more than $500 million for failing to keep records of business communications employees sent via apps like WhatsApp.

This follows $2 billion in fines given to other big banks such as Bank of America and Morgan Stanley in September 2022 for improper texting. Employees used various private messaging apps such as WhatsApp for business communications and failed to keep records of them.

In addition to Wells Fargo, BNP Paribas and Bank of Montreal were fined, among others. The firms must also hire independent consultants to overhaul their recordkeeping practices around employee communications.

## **Launches**

**Tuesday**

- YieldMax NFLX Option Income Strategy ETF (NFLY)
- LAFFER TENGLER Equity Income ETF (TGLR)

**Wednesday**

- ZSC - USCF Sustainable Commodity Strategy Fund (ZSC)

**Thursday**

- BUXX - Strive Enhance Income Short Maturity ETF (BUXX)
- Cboe Validus S&amp;P500 Dynamic PutWrite Index (PUTD)
- First Trust Cboe Vest SMID Rising Dividend Achievers Target Income ETF (SDVD)
- Strive Total Return Bond ETF (STXT)
- FT Cboe Vest Technology Dividend Target Income ETF (TDVI)

 
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## **Closures**

Friday

- [**AXS 1.5X PYPL Bull Daily ETF (PYPT)**](/PYPT)

## **ETF Changes**

**Monday**

The following funds underwent splits:

- [**WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD)**](/AGZD): 2 for 1
- [**WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)**](/DXJS): 2 for 1
- [**WisdomTree Europe Hedged Equity Fund (HEDJ)**](/HEDJ)**:** 2 for 1

**Tuesday**

The following funds underwent reverse splits:

- [**AXS 1.25X NVDA Bear Daily ETF (NVDS)**](/NVDS): 1 for 5
- [**AXS Cannabis ETF (THCX)**](/THCX): 1 for 10

*Contact Gabe Alpert at* [*gabriel.alpert@etf.com*](mailto:gabriel.alpert@etf.com)



 

 

 [ Gabe Alpert ](/authors/gabe-alpert) 

 

 

  Gabe Alpert is a former data reporter at etf.com with over seven years’ experience in financial journalism. He also previously contributed reporting…   [View Bio](/authors/gabe-alpert)

 



 

 


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