Cathie Wood Bullish: US SEC Ruling Impact on Bitcoin Spot ETF

Wood highlighted that while BlackRock’s application includes a supervisory sharing clause, ARK Invest can easily adjust their application to align with industry standards. Wood emphasized that multiple institutions are moving towards this direction and have submitted their respective applications. The SEC is expected to review ARK Invest’s application by mid-January next year, while BlackRock’s review is anticipated before March next year.

Cathie Wood pointed out that the SEC has already approved some Bitcoin futures ETFs and recently granted approval for a leveraged Bitcoin futures ETF. However, she believes that spot ETFs, such as the grayscale version, offer greater security as they are fully backed by bitcoins stored in cold wallets, in contrast to futures that involve swaps. Wood finds the SEC’s approval situation contradictory, with futures ETFs being approved while spot ETFs are rejected.

Moreover, Wood stated that if the SEC were to lose the ongoing “Grayscale v. SEC” case, the likelihood of approving a Bitcoin spot ETF would increase. This case outcome could potentially shape the SEC’s stance on spot ETFs and pave the way for their approval.

As the regulatory landscape evolves, investors and industry players eagerly await the SEC’s decisions on Bitcoin spot ETFs, which could have significant implications for the cryptocurrency market and investment opportunities.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu