ARK Invest’s Spot Bitcoin ETF Application Seeing Progress As SEC Shows Change in Behavior, Says CEO Cathie Wood

ARK Make investments CEO Cathie Wooden says that the U.S. Securities and Trade Fee (SEC) is beginning to present a change in angle towards the agency’s software for a spot market Bitcoin (BTC) exchange-traded fund (ETF).

In a brand new CNBC interview, Wooden says that there’s been a wholesome alternate of knowledge between the SEC and ARK Make investments’s BTC ETF associate 21Shares.

“Our associate 21Shares in Europe did reply or ship info in response to the SEC questions… and what we see here’s a little little bit of a change within the SEC’s habits.

They really are asking questions and we supplied 5 pages together with our associate of solutions to these questions. So progress we’d say.”

The SEC has to make its closing determination concerning the applying standing of ARK 21 Shares Bitcoin ETF on January tenth, about three months sooner than the ultimate deadline for different spot market BTC ETFs.

Wooden additionally says that institutional floodgates will open up as soon as the SEC greenlights a Bitcoin ETF.

“I feel many individuals deal with our value goal for Bitcoin and our base case is over $600,000 by the 12 months 2030, and so they actually need to perceive that. Perhaps they’re simply making an attempt to know our analysis, however there’s positively a deal with whether or not this can be a new asset class that I ought to examine. 

And I might say establishments, particularly, after they see the SEC seal of approval this manner, I feel this may lastly deliver institutional curiosity into Bitcoin.” 

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