SEC Chair Gary Gensler Blocking Bitcoin ETFs, According to Cathie Wood of ARK Invest
The CEO of ARK Invest, Cathie Wood, believes that the Chair of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, is obstructing the approval of a spot market Bitcoin exchange-traded fund (ETF). In an interview, Wood mentions that while some factions within the SEC are knowledgeable about Bitcoin, there appears to be a “disconnect” with Gensler in charge.
Wood further states that she expects the SEC to approve not just one but multiple spot Bitcoin ETFs. She questions why Gensler allowed a Bitcoin futures ETF with counterparty risk but not a Bitcoin ETF without such risk. She suggests that Gensler’s stance might be changing due to new research reaching the SEC Commissioners.
Hot Take: SEC Chair’s Resistance to Bitcoin ETFs
Cathie Wood, CEO of ARK Invest, claims that Gary Gensler, the Chair of the SEC, is hindering the approval of spot market Bitcoin ETFs. Although various factions within the SEC understand Bitcoin’s potential, Wood believes there is a “disconnect” with Gensler. She speculates that multiple spot Bitcoin ETFs might soon receive approval from the SEC. Wood questions Gensler’s decision to allow a Bitcoin futures ETF but not a Bitcoin ETF without counterparty risk. She suggests that recent research reaching the Commissioners may lead to the approval of a Bitcoin ETF.
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