US SEC’s Clarity on ETF Filings
Cathie Wood, CEO of ARK Invest, revealed that the SEC has been asking thoughtful and technical questions during meetings with ETF filers. This indicates that the agency is taking a more engaged approach and seeking clarity on the ETF filings. Wood also mentioned that Blackrock and Grayscale had extensive discussions with SEC officials regarding spot ETF filings.
Wood expressed her support for these discussions, emphasizing the importance of addressing any uncertainties to ensure a smooth approval process. She stated that positive dialogues are ongoing and that they are addressing the SEC’s queries one by one.
Bright Outlook for Approval
During an interview with Yahoo Finance, Wood expressed optimism about the approval of a spot Bitcoin ETF in January 2024. However, she ruled out the possibility of an early approval before the end of 2024 due to ongoing deliberations. Wood believes that the approval of spot ETFs will open doors for institutional investors to enter the crypto market.
Meanwhile, the price of Bitcoin remains stagnant around $42,000 as traders and investors anticipate significant returns leading up to the Bitcoin Halving in Q2 2024.
Hot Take: Cathie Wood Bullish on Spot Bitcoin ETF Approval
Cathie Wood, CEO of ARK Invest, expressed confidence in the prospects of a spot Bitcoin ETF gaining approval in the United States. She highlighted the SEC’s engagement in discussions with ETF filers and their focus on addressing technical details. Wood believes that these positive dialogues indicate a bright outlook for approval in January 2024. The approval of spot ETFs would pave the way for institutional investors to enter the crypto market. However, she dismissed the possibility of an early approval before the end of 2024. The price of Bitcoin remains stagnant, with traders and investors anticipating significant returns in the coming years.
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