Cathie Wood and Mike Novogratz Optimistic About Approval of Bitcoin ETF
Cathie Wood, CEO of Ark Invest, and Mike Novogratz, CEO of Galaxy Digital, are both optimistic about the imminent approval of a spot bitcoin (BTC) exchange-traded fund (ETF). Wood believes that the US Securities and Exchange Commission (SEC) will approve multiple bitcoin ETFs at once, while Novogratz’s sources anticipate approvals within the next four to six months.
Key Points:
- Wood predicts that the SEC will approve multiple bitcoin ETFs simultaneously.
- Novogratz’s sources suggest that approval will likely happen within the next four to six months.
- Both Ark Invest and BlackRock have applied for a spot bitcoin ETF.
- A spot bitcoin ETF would allow both institutional and individual traders to gain exposure to bitcoin without directly trading on a cryptocurrency exchange.
- The involvement of BlackRock, a major asset-management industry player, has raised hopes for a successful bitcoin ETF application.
Hot Take:
The optimism expressed by Cathie Wood and Mike Novogratz regarding the approval of a bitcoin ETF is a positive sign for the cryptocurrency market. If multiple ETFs are approved simultaneously, it could open up new opportunities for institutional and individual investors to participate in the bitcoin market. The anticipated timeframe of four to six months aligns with the growing interest and acceptance of cryptocurrencies in the financial industry.
By
By
By
By
By
By