Bitcoin ETF

Bitcoin

<p>The post <a href="https://coinpedia.org/news/what-comes-after-etf-cathie-woods-take-on-bitcoins-role-applauds-21shares/">Spot ETF Boom: Here’s Why Cathie Wood Sees Bitcoin as a Market Powerhouse</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/uncategorized/cathie-woods-ark-invest-sells-49-2m-coinbase-whats-happening/">Cathie Wood</a>, the influential CEO of <a href="https://coinpedia.org/news/cathie-woods-ark-invest-makes-strategic-portfolio-shifts-selling-coinbase-and-gbtc-while-buying-robinhood/">Ark Invest</a>, has expressed optimism about the possible approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) by January 10. Notably, she highlighted a positive shift in the SEC’s “depth of knowledge” and an enhanced understanding of the relevant issues.</p> 
<p>What are the reasons behind her bold claim? Read on! </p> 
<h2 class="wp-block-heading" id="h-why-is-the-spot-bitcoin-etf-so-important">Why is the Spot Bitcoin ETF So Important?</h2> 
<p>In a recent CNBC interview, Wood emphasized the significance of a <a href="https://coinpedia.org/news/anthony-scaramucci-charts-bullish-path-for-bitcoin-expects-new-all-time-high/">spot Bitcoin ETF</a>. She believes it will attract institutional interest to cryptocurrencies. According to Wood, once major institutions enter the scene, they’ll explore various crypto investments.</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe title="Cathie Wood discusses 'encouraging' signs pertaining to ARK 21Shares spot bitcoin ETF application" width="1220" height="686" src="https://www.youtube.com/embed/YkBqOAmdc7I?start=1&amp;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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<p>Wood also praised <a href="https://coinpedia.org/news/hashdex-selects-bitgo-as-custodian-amid-secs-shift-towards-cash-create-model-in-bitcoin-etf-arena/">21Shares</a>, a leading ETP crypto provider with about $2 billion in assets, for their influential role in shaping the crypto market.</p> 
<p><strong>How High Will Bitcoin Soar?</strong></p> 
<p>Regarding Bitcoin’s potential price movement after the ETF approval, Wood recognizes possible short-term changes. However, she remains confident that significant institutional investments will positively impact Bitcoin’s long-term value.</p> 
<blockquote class="wp-block-quote"> 
 <p><em>“We’re keeping an eye on everything, and everything seems to be working fine.” </em></p> 
</blockquote> 
<p>Wood also stressed how important it is to actively manage different investment strategies as the market keeps changing.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/why-is-the-sec-delaying-bitcoin-etf-approval-cathie-wood-weighs-in/">Why is the SEC Delaying Bitcoin ETF Approval? Cathie Wood Weighs In</a></p> 
<h2 class="wp-block-heading" id="h-bitcoin-as-a-hedge-and-global-tender">Bitcoin as a Hedge and Global Tender</h2> 
<p>Looking into the future, Wood highlighted Bitcoin’s resilience in 2023, noting its 50% growth despite challenges like regional bank crises. She pointed out crypto tokens’ unique benefits, such as decentralization and transparency, which attract investors interested in on-chain activities.</p> 
<p>Wood also sees <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a> as a hedge against inflation and deflation. She predicts a future where Bitcoin stands alongside physical gold as a key investment.</p> 
<p>Lastly, Wood recommended broader Bitcoin adoption as legal tender in emerging economies, referencing initiatives in <a href="https://coinpedia.org/news/el-salvadors-volcanic-bonds-pioneering-a-crypto-powered-future-in-q1-2024/">El Salvador</a> and <a href="https://coinpedia.org/news/bitcoin-price-surges-2-as-pro-bitcoin-president-wins-in-argentina-presidential-election/">Argentina</a>.</p> 
<p>Read More: <a href="https://coinpedia.org/news/spot-bitcoin-etfs-set-to-revolutionize-the-150-strong-crypto-etp-landscape/">Spot Bitcoin ETFs Could Surpass $50 Billion Crypto ETP Market: BitMEX</a></p> 
<p><strong>All in all…</strong>as institutional interest continues to grow, Wood’s bullish sentiments and predictions provide a glimpse into the evolving landscape of Bitcoin and the broader cryptocurrency market in the coming year.</p>

Spot ETF Boom: Here’s Why Cathie Wood Sees Bitcoin as a Market Powerhouse

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