Ark Invest CEO Cathie Wood has expressed optimism concerning the potential approval of a Bitcoin Exchange-Traded Fund (ETF) by the U.S. Securities and Exchange Commission (SEC). During an interview with CNBC’s “Halftime Report” host right now, Wood highlighted the rising optimism throughout the crypto group relating to Bitcoin ETFs.
Anticipating Multiple Bitcoin ETF Approvals
The businesswoman started by acknowledging that ARK Invest had responded to the SEC’s request for details about their Bitcoin submitting. And though she didn’t disclose particular particulars, she hinted that the SEC’s inquiries signified a change in conduct, which had raised hopes for the approval of one or many Bitcoin ETFs.
Source: CNBC
“I think many people think the fact that the SEC chose to ask questions is a change in behavior and therefore I do think hopes are rising that one or a number of Bitcoin ETFs will be approved,” mentioned Wood.
It is price noting that there was a rising consensus that the SEC would quickly launch a directive detailing its method to implementing selections on Bitcoin ETFs which might function the catalyst for approving a number of Bitcoin ETFs by year-end. This follows a latest courtroom ruling that deemed SEC’s rejection of Grayscale Investments’ utility to ascertain a spot BTC ETF as incorrect. With the prospects of the SEC pursuing an enchantment low, many really feel that the company left with little choices however to approve the product.
Additionally, Wood underscored that ARK Invest had set a call deadline for January tenth, noting that they anticipated being among the many first in line for approval.
ETF FUD and Market Impact
Notably, Wood’s remarks got here on the heels of a sequence of erroneous reports circulating earlier on Monday claiming that the SEC had permitted BlackRock’s utility for a spot Bitcoin ETF.
These studies briefly propelled the worth of Bitcoin to the $30,000 mark. However, the euphoria was short-lived, as the worth quickly retreated to roughly $28,322, triggering a cascade of liquidations, after numerous specialists raised doubts. Later, BlackRock swiftly refuted the declare, stating that their utility was nonetheless beneath evaluate, main the publications to delete their studies and apologize.
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