ARK Invest CEO Cathie Wood Believes the Odds of Spot Bitcoin ETF Approval are Increasing
Cathie Wood, the CEO of ARK Invest, believes that the chances of a spot Bitcoin exchange-traded fund (ETF) gaining approval in the US are increasing. In an interview with Bloomberg Television, Wood stated that the engagement between ARK Invest and the US Securities and Exchange Commission (SEC) has been more promising than before, leading her to believe that approval is more likely. She mentioned that the SEC has been actively involved in discussions and has been asking follow-up questions, which she sees as positive signs. However, Wood also noted that there is still some risk involved and it is not guaranteed that the ETFs will be approved by the expected January 10th deadline.
Hot Take: The Potential Approval of a Spot Bitcoin ETF
Cathie Wood’s optimism regarding the approval of a spot Bitcoin ETF in the US indicates growing possibilities for cryptocurrency investors. The increased engagement between ARK Invest and the SEC suggests progress in regulatory discussions. If approved, a spot Bitcoin ETF would provide investors with a regulated and easily accessible way to invest in Bitcoin. However, it is important to remain cautious as there is still uncertainty surrounding the decision. The outcome of this potential approval could have significant implications for the mainstream adoption of cryptocurrencies and their integration into traditional financial systems.
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