Cathie Wood says ‘hopes are rising’ for spot Bitcoin ETF; Larry Fink addresses role of crypto in restless markets
Oct. 16, 2023
By Mike Dalton
Cathie Wood, the CEO and CIO of ARK Invest, commented on pending spot Bitcoin ETF applications during a CNBC interview on Oct. 16.
As ARK Invest is one of several asset managers pursuing a spot Bitcoin ETF, Wood began by describing the current state of her company’s application, stating:
“It was publicized and disclosed last week that we had responded to the SEC’s request for information around our Bitcoin filing, and we responded. That’s basically all we can say.”
The U.S. Securities and Exchange Commission (SEC) published initial requests for comments on select spot Bitcoin ETF applications in late September. Though ARK Invest was not one of the firms that initially received a request from the agency, it nevertheless responded by updating its application on Oct. 11.
During the current interview, Wood suggested that the SEC’s questions indicate that the agency’s stance toward spot Bitcoin ETFs is changing. She added that the SEC’s decision to seek information could signify that “hopes are rising” for spot Bitcoin ETFs.
When the interviewer suggested that many commentators believe a spot Bitcoin ETF could be approved by the end of the year, Wood suggested that this could be due to ARK’s own approval deadline. The SEC must reach a decision on ARK’s proposal by Jan. 10, 2024. Though ARK’s application is first in line, Wood noted that multiple ETFs could be approved at once — echoing one of her earlier statements from August.
To read the entire article...Click Here!
