ChARK Invest's Bitcoin ETF Application Gaining Traction with SEC Displaying a Shift in Approach, According to CEO Cathie Wood
ARK Invest CEO Cathie Wood says that the U.S. Securities and Exchange Commission (SEC) is showing a change of attitude toward the company’s application for a spot market Bitcoin (BTC) exchange-traded fund (ETF)
Bitcoin ETF is the main topic of a new CNBC interview with Cathie Wood, the CEO of ARK Invest. She says that the U.S. Securities and Exchange Commission (SEC) has changed its attitude toward the application of ARK 21 Shares Bitcoin ETF, which is partnered with 21Shares in Europe.
She reveals that 21Shares answered the SEC questions and provided five pages of information. She calls this a sign of progress and a shift in the SEC behavior.
The SEC will make its final decision on January 10th, three months before the deadline for other Bitcoin ETFs.
Wood also predicts that institutions will flock to Bitcoin once the SEC approves a Bitcoin ETF.
She says that many people are curious about her research and her price target of over $600,000 for Bitcoin by 2030. She believes that Bitcoin is a new asset class that deserves attention.
She adds that institutions will be more interested in Bitcoin when they see the SEC seal of approval.
Oct 18, 2023