Cathie Wood, CEO of Ark Invest, Anticipates Significant Price Boost for BTC Through Spot Bitcoin ETFs

Ark Invest CEO Cathie Wood on the Approval of Spot Bitcoin ETFs

Cathie Wood, the CEO of Ark Investment Management, recently spoke about the potential approval of spot bitcoin exchange-traded funds (ETFs) in an interview with Yahoo Finance. Ark Invest is one of the companies seeking approval from the U.S. Securities and Exchange Commission (SEC) to launch a spot bitcoin ETF. According to Wood, the SEC’s attitude towards spot bitcoin ETFs has changed in recent weeks, with the regulator now engaging in thoughtful and detailed discussions with applicants.

Wood stated that the SEC’s engagement is a positive development and believes that a spot bitcoin ETF will receive approval if all uncertainties are addressed. She expressed confidence that the SEC will approve multiple spot bitcoin ETF applications in January based on their actions.

Impact on Bitcoin’s Price

Wood discussed the potential impact of a spot bitcoin ETF approval on the price of bitcoin. She explained that the recent price increase is driven by the anticipation of ETF approval. However, she expects some investors to “sell on the news.” Wood believes that the approval of spot bitcoin ETFs by the SEC will encourage institutional investors to participate in the crypto asset world, leading to a significant price increase. She emphasized that even a small allocation of institutional assets to an ETF would have a substantial effect on the price of bitcoin.

Hot Take: Widespread Institutional Involvement Expected with Spot Bitcoin ETF Approval

Cathie Wood, CEO of Ark Investment Management, foresees widespread institutional involvement in spot bitcoin exchange-traded funds (ETFs) following anticipated approval by the U.S. Securities and Exchange Commission (SEC). “All we need is for the trillions of dollars in institutional assets out there to allocate maybe 0.1% or 0.2% to an ETF, which will be one of the easiest ways to gain exposure and one of the most efficient ways to gain exposure to bitcoin,” she explained, adding: “That will move the price significantly.”