Cathie Wood subtly suggests possible approval date for Bitcoin ETF
Cathie Wood anticipates that the U.S. Securities and Exchange Commission (SEC) will grant approval for spot Bitcoin (BTC) ETFs in January 2024. Wood, the CEO of Ark Invest, expressed her belief that the deadline on January 10, 2024, is not only for applicants but also for the regulator itself.
During an interview with CNBC, Wood expressed her satisfaction with her partner, 21Shares, referring to it as a leading provider of cryptocurrency exchange products. Wood also discussed the future of Bitcoin, stating that she expects the asset to experience a significant increase in 2024. She believes that Bitcoin is the best tool for hedging risks associated with inflation and economic instability.
The mention of January 10, 2024, in relation to the approval of spot Bitcoin ETFs is not new. It is the upcoming interim deadline for the consideration of the joint application between Ark Invest and 21Shares. Some experts speculate that the SEC will approve multiple applications by this date. The regulator has also set a deadline of December 29, 2023, for filing amendments.
Gary Gensler, the head of the SEC, has confirmed that the Commission is currently reviewing 8 to 12 applications for Bitcoin ETFs. Furthermore, representatives from the crypto industry have already engaged in several meetings with the SEC in November and December.
For more information, please read: SEC Chair Gary Gensler comments on prospects for spot Bitcoin ETF. Follow Us on Google News.
