Cathie Wood, a US investor and the CEO of ARK Invest, expressed great optimism about the likelihood of a spot Bitcoin ETF soon being available in the US. She also clarified the SEC’s perspective on getting to know the specifics of the ETF filings.
The Clarity Of US SEC’s ETF Filings
In light of the SEC’s prior denial of spot ETF licenses, Wood claimed that agency representatives had questioned the registrants in recent sessions with much consideration, technical detail, and thoughtfulness. She also mentioned that it was a really positive step that the Commission had asked multiple follow-up questions during the discussions rather than just one or two. Blackrock and Grayscale were among the businesses who met with SEC representatives the most on the impromptu ETF filings, according to a previous CoinGape story.
Cathie Wood expressed her gratitude for the lengthy conversations with ETF searchers, saying the companies don’t want any ambiguities when it comes to the SEC.
Positive Prognosis For Approval
She told Yahoo Finance that there is a very good chance that a spot Bitcoin ETF would be approved, and she expressed confidence that this will happen in January 2024. Due to the current discussions, this eliminates the chance of an early approval as early as before the end of 2024. Institutional investors will be able to enter the cryptocurrency market once the spot ETFs are approved, according to her.
With the Bitcoin Halving slated for the second quarter of 2024, traders and investors continue to expect substantial gains as the price of Bitcoin (BTC) stays mostly stable around $42,000.