Yes, actually black rock gave SEC 240 days to give their final decision. We already know that SEC has no option but to accept BTC ETF if by now they have bring in reason why they prolong the acceptance of ETF
It is not BlackRock or any of the ETF applicants that gave SEC 240 days to consider the applications. The law state that the process of public consultation and review of the application will commence only when the application have been have been published in the Federal Register. After the filings are published in the registry, SEC is mandated by the law to review the application within 45 days but they still have the power to extend it to 240 days maximum to approve or disapprove. Black Rock filled out their application on 7-19-23 and the possible deadline for approval will be 3-16-24.
BlackRock is a powerful, wealthy, and well-connected financial company but there is no certainty that SEC will approve their application. We just have to wait and see the outcome of these applications especially the first application by ARK.
