Catherine Wood,
an American investor and founder of ARK Invest, an investment management firm
that participates actively in cryptocurrency, has predicted a delay in the company’s
Bitcoin ETF approval by the U.S. Securities and Exchange Commission (SEC).
ARK Invest
submitted a Bitcoin ETF application last June.
Wood revealed
her expectation that the SEC would not meet the upcoming review deadline for
the fund, citing the feasibility of SEC approving multiple Bitcoin sport ETFs
contemporaneously, which departs from its past reluctance.
In one of
her interviews, she suggested that if the SEC decides to move forward with any
pending applications, it could approve more than one ETF.
Initially
asserting a leading position for potential approval due to the timing of their
application, she now agrees with the idea of a level playing field for ETFs.
Wood’s changed
stance could foster demand for upwards of $50 billion across various ETFs.
Market leaders
such as BlackRock, Fidelity, WisdomTree, VanEck, and Invesco, have all
submitted applications for the same Bitcoin ETF.
Wood’s viewpoint
echoes Grayscale’s recommendation of simultaneous approvals to ensure fairness
among ETF applicants.
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