Cathie Wood hints at spot Bitcoin ETF approval date

Cathie Wood thinks U.S. Securities and Exchange Commission (SEC) is likely to approve spot Bitcoin (BTC) ETFs in January, 2024.

Ark Invest CEO Cathie Wood believes SEC will approve spot Bitcoin ETFs by Jan. 10, 2024. She believes that this date is the deadline not so much for applicants but directly for the regulator itself.

“We don’t want the spot Bitcoin ETF to get the green light if there are any uncertainties the SEC may have. We answer the SEC’s queries individually, and the dialogues are very positive.”

Cathie Wood, Ark Invest CEO

In an interview with CNBC, she also noted that she was very pleased with her partner, 21Shares. She called it a leading provider of cryptocurrency exchange products.

Wood also touched on the topic of Bitcoin. According to her, in 2024, the asset will experience a significant increase. She considers it the best means of hedging risks in inflation and economic instability.

This is not the first time that Jan. 10, 2024, has appeared in the context of the approval of spot Bitcoin ETFs. The indicated date is the next interim deadline for consideration of the joint Ark Invest/21Shares application. Some experts believe that the SEC will approve several applications at once by this date. Moreover, the regulator has set the deadline for submitting filing amendments to Dec. 29, 2023.

Now, according to the head of the regulator, Gary Gensler, the Commission is reviewing from 8 to 12 applications to open a Bitcoin ETF. In addition, in November and December, participants in the crypto industry have already met with SEC representatives several times.

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About the Author: Daniel