Cathie Wood’s Belief: SEC Could Approve Multiple Spot BTC ETFs Simultaneously
Cathie Wood, the CEO of ARK Investment Management, has expressed her belief that the United States Securities and Exchange Commission (SEC) may give the green light to more than one spot Bitcoin exchange-traded fund (ETF) simultaneously. This view differs from that of ARK Invest’s analyst, Yassine Elmandjra, who had previously predicted that their organization would be the first to receive approval for such a financial product.
Main breakdowns:
- Cathie Wood expects the SEC to approve multiple spot Bitcoin ETFs at once.
- ARK Investment Management has also applied for approval of a Bitcoin ETF.
- Wood’s view contrasts with that of ARK Invest’s analyst, Yassine Elmandjra.
- Elmandjra predicted that ARK Investment Management would be the first to receive approval.
- Wood’s statement suggests that either none or multiple Bitcoin ETFs will be approved.
Wood stated in a recent Bloomberg interview that if the SEC decides to approve a Bitcoin ETF, it is likely to approve more than one simultaneously. This indicates that the SEC’s decision may be to either approve multiple Bitcoin ETFs or none at all.
Hot Take:
While the SEC’s stance on Bitcoin ETFs remains uncertain, Cathie Wood’s belief that there may be approval for multiple spot BTC ETFs simultaneously highlights the growing interest and potential for cryptocurrency in the mainstream financial market. If her prediction holds true, it could lead to increased accessibility and legitimacy for Bitcoin as an investment vehicle.
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