Ark Invest CEO Cathie Wood made comments about the applications for Spot Bitcoin ETFs in her interview with CNBC and evaluated the SEC‘s stance on ETF applications. Cathie Wood stated that the SEC’s attitude towards Spot Bitcoin ETFs has changed, and shared her thoughts that ETF applications could be approved by the SEC.
All Eyes on the SEC for ETF Applications
The rejection of numerous Spot Bitcoin ETF applications by the U.S. Securities and Exchange Commission (SEC) in the past, and the negative statements made by SEC Chairman Gensler regarding Spot Bitcoin ETFs in the public, have led to a lack of strong expectation that the SEC will approve Spot Bitcoin ETF applications in the near future. However, recent developments have largely reversed market expectations.
Recent developments such as asset management company BlackRock’s ETF application and Grayscale winning the SEC case have strengthened the growing expectation that the SEC may approve ETF applications. Although the SEC has not yet made an official decision on ETF applications, the market expectation is that the applications can be accepted.
ETF Statement from Ark Invest CEO
Ark Invest CEO Cathie Wood commented on the ETF applications and the SEC’s stance on ETF applications. Cathie Wood made statements in parallel with the increasing expectations that ETF applications could receive approval from the SEC in recent months.
Ark Invest CEO Cathie Wood claimed that the U.S. Securities and Exchange Commission has changed its attitude towards Spot Bitcoin ETF applications. Wood also discussed the potential impact that ETFs could have on the market if approved and stated that there could be a significant increase in institutional demand if Spot Bitcoin ETFs receive approval from the SEC.
While expectations continue to rise that Spot Bitcoin ETFs could be approved by the SEC, all eyes are now on the SEC for an official decision. The SEC is expected to make its final decision on the ARK 21 Shares Bitcoin ETF application on January 10th.
