Cathie Wood, CEO of ARK Invest, has shared her perspective on the approval timeline for bitcoin spot ETFs. She has also highlighted the significant impact that officially sanctioning bitcoin ETFs would have on the price of btc.
btc Price Boom Predicted Following ETF Acceptance
Founder and CEO of American asset investment management company, ethereum-spot-etf/” rel=”nofollow”>ARCA invest, Catherine Duddy Wood recently appeared in an interview with Yahoo Finance. Life interview which was posted via YouTube focuses on Wood's views and opinions regarding the potential approval of bitcoin Spot ETFs and its effect on the bitcoin-etf-readies-for-jan-15-trading-launch/” rel=”nofollow”>btc price.
According to the CEO of ARK InvestThe price of btc could rise substantially if the United States Securities and Exchange Commission (btc-spot-etfs-for-issuers/” rel=”nofollow”>SECOND) approves bitcoin Spot ETFs for institutional investors.
“What we think is going to happen here is that the SEC will give btc, a bitcoin spot ETF, the green light for institutional investors to participate. “I think a lot of institutions have been reluctant before the SEC approves a spot bitcoin ETF to do much in the world of crypto assets,” Wood said.
She added:
“All we need is for the trillions of dollars of institutional assets that exist to allocate maybe 0.1% or 0.2% to an ETF, which will be one of the easiest ways to gain exposure and one of the ways more efficient ways to gain exposure to btc. . That will move the price significantly.”
<img decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/yAU09fUF/" alt="Tradingview.com bitcoin Price Chart (ARK Invest Spot bitcoin ETF Cathie Wood)” width=”3266″ height=”1530″ loading=”lazy”/>
btc price fails to beat resistance at $43,000 | Source: BTCUSD on Tradingview.com
bitcoin ETF approval expected in January
During the interview, Wood outlined a timeline for the approval of bitcoin Spot ETFs, predicting the potential bitcoin-etf-approval-sec-january-2-10/” rel=”nofollow”>approval dates for January.
“We think it will be in January. Famous last words, I don't want to say we know anything, because we don't. But it is only the actions of the SEC that lead us to that conclusion,” Wood said.
Despite the positive forecasts, the bitcoin-shares/” rel=”nofollow”>ARCA invest The founder also stated that if the US SEC remains undecided on bitcoin-etf-may-be-approved-soon-reuters/” rel=”nofollow”>bitcoin Spot ETFthen a btc ETF may not be necessary.
“We don't want a spot bitcoin ETF to get the green light if there is any uncertainty the SEC may have. So I think we are answering those uncertainties one by one, each and every applicant for a spot bitcoin ETF. And I think the dialogues are very positive. “I think the prospects are bright for a spot bitcoin ETF,” Wood said.
Featured image from Markets Insider, chart from Tradingview.com
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