CEO of ARK Invest, Cathie Wood has shared her perspective on the approval timeline for Spot Bitcoin ETFs. She has additionally highlighted the numerous affect the official authorization of Bitcoin ETFs would have on the worth of BTC.
BTC Price Boom Predicted Following ETF Acceptance
Founder and CEO of American asset funding administration agency, ARK Invest, Catherine Duddy Wood has lately appeared in an interview with Yahoo Finance. The stay interview which was revealed through YouTube facilities on Wood’s views and opinions relating to the potential approval of Spot Bitcoin ETFs and its impact on the price of BTC.
According to the ARK Invest CEO, the worth of BTC might surge considerably if the United States Securities and Exchange Commission (SEC) approves Spot Bitcoin ETFs for institutional buyers.
“What we think is going to happen here is that the SEC is going to be giving BTC, a spot bitcoin ETF, the green light for institutional investors to participate. I think a lot of institutions have been reticent before the SEC approves a spot bitcoin ETF to do very much at all in the crypto asset world,” Wood acknowledged.
She added:
“All we need is for the trillions of dollars in institutional assets out there to allocate maybe 0.1% or 0.2% to an ETF, which will be one of the easiest ways to gain exposure and one of the most efficient ways to gain exposure to BTC. That will move the price significantly.”
BTC worth fails to beat resistance at $43,000 | Source: BTCUSD on Tradingview.com
Bitcoin ETF Approval Expected In January
During the interview, Wood outlined a timeline for the approval of Spot Bitcoin ETFs, predicting the potential approval dates for January.
“We do think it will be in January. Famous last words, don’t want to say we know anything, because we don’t. But it’s just the actions of the SEC that are leading us to that conclusion,” Wood stated.
Despite the constructive forecast, the ARK Invest founder additionally acknowledged that if the US SEC stays undecided about Spot Bitcoin ETFs, then a BTC ETF might not be obligatory.
“We don’t want a spot bitcoin ETF to get the green light if there are any uncertainties that the SEC may have. So I think we’re answering those uncertainties one by one, each of the filers for a spot bitcoin ETF. And I think the dialogues are very positive. I think the outlook is bright for a spot bitcoin ETF,” Wood acknowledged.
Featured picture from Markets Insider, chart from Tradingview.com
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