The likelihood of spot Bitcoin ETF approval has increased, says ARK Invest's Cathie Wood – but there's a catch
ARK Invest CEO Cathie Wood says the chances of a spot Bitcoin (BTC) exchange traded fund (ETF) being approved in the US in January 2024 are increasing.
In a new interview on Bloomberg Television, Wood says the collaboration between ARK Invest and the U.S. Securities and Exchange Commission on its ETF application makes her believe approval is more likely than ever.
“Well, we think the likelihood has increased because the SEC has been very involved compared to what has happened before. Before it was just a matter of refusing consent, refusing consent. And we just kept submitting our paperwork, you know, trying, trying, trying, stubbornly and determinedly. So we believe we come first and that's why we have this deadline of January 10th.
But we like the idea of the SEC being so engaged, not just with us but with others as well. We anticipate that multiple funds could be approved at the same time. And they not only asked a series of questions, but also follow-up questions. That is also a very good sign.”
However, Wood warns that there is still some risk that the SEC does not approve spot Bitcoin ETFs by January 10, as many expect.
“The last few questions have been very technical and somewhat imperative, and one would expect them to be asking those questions as we move toward approval. Now it's not 100% safe. That's why we want to make that clear. This is the SEC, and we never know what might happen along the way.”
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