Probability of a Spot Bitcoin ETF Approval Has Gone Up, Says ARK Invest’s Cathie Wood – But There’s a Catch

ARK Make investments CEO Cathie Wooden says that the percentages of a January 2024 approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) within the US are going up.

In a brand new interview on Bloomberg Tv, Wooden says that engagement between ARK Make investments and the U.S. Securities and Change Fee (SEC) over its ETF software is making her imagine an approval is extra possible than ever earlier than.

“Nicely, we predict the possibilities have gone up, as a result of the SEC has been extremely engaged in comparison with what was occurring earlier than. Earlier than, it was simply denying approval, denying approval. And we simply stored placing our submitting in once more, , attempt, attempt, attempt, dogged and decided. And so we predict we’re first in line and that’s why there may be this January tenth deadline.

However we like the concept that the SEC has been so engaged, and it’s not simply with us, it’s others as nicely. We expect numerous funds might be permitted on the identical time. And so they’ve been asking not just one set of questions, however observe up questions. Once more, that’s an excellent signal.”

Nonetheless, Wooden warns that there nonetheless stays some threat that the SEC doesn’t approve the spot Bitcoin ETFs by January tenth, as many anticipate.

“The previous couple of questions have been very technical and extra de rigueur and also you’d anticipate them to be asking these questions as we head towards an approval. Now, it’s not 100% sure. So we need to make that clear as nicely. That is the SEC, and we by no means know what may occur alongside the way in which.”

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