Multiple Bitcoin ETF Approval Likely as per Cathie Wood
Cathie Wood ETF
Key Points:
- Cathie Wood is under the impression that the regulator will not examine the ETF filings separately.
- The next crucial dates around the spot ETF filings were already disclosed, August 13, 2023.
- Wood said that the US SEC may consider several applications simultaneously.
On Monday, ARK Invest founder and well-known investor Cathie Wood said that she does not anticipate a ruling on the firm’s spot Bitcoin ETF filing from the U.S. SEC before the next deadline, which is August 13, 2023.
Despite this, she is under the impression that the regulator will not examine the ETF filings separately. News around spot ETF registrations by major players like Blackrock, Valkyrie, Wisdom Tree, and Fidelity has been a major positive factor in the cryptocurrency sector in recent months.
The next crucial dates around the spot ETF filings were already disclosed. Including the Blackrock filing, the first week of September 2023 is packed with important dates for the US SEC in regards to exchange-traded funds.
Bitcoin Rally Expected
Cathie Wood, speaking to Bloomberg on Monday, said that the federal regulatory body would make a judgment on Bitcoin ETFs on the spot. Wood said that the US SEC may consider several applications simultaneously, raising the question of whether Ark Invest’s ETF filing would have an edge over Blackrock’s.
Since Bitcoin ETFs make it simpler to obtain exposure to Bitcoin, their approval might have far-reaching effects on the public’s view of the crypto economy. No doubt the price of Bitcoin will skyrocket post approval.
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