Bitcoin ETF

Bitcoin

Renowned investor Cathie Wood, <a href="https://news.todayq.com/cathie-woods-ark-invest-books-profit-from-coinbase-and-gbtc-shares-report/" target="_blank" rel="noreferrer noopener">CEO of Ark Invest</a>, showed her optimism about the potential approval of a spot Bitcoin exchange-traded fund (ETF). It is important to note that Ark Invest is among the firms that are closely awaiting a decision from the US Securities and Exchange Commission (SEC) in this matter. However, they are holding an anticipation that a favorable outcome could come as early as January. Cathie Wood positive on Bitcoin ETF 
In an interview with Yahoo Finance, Cathie Wood highlighted a serious shift in the SEC’s approach. She noted that after previous denials, Ark Invest and other applicants received detailed and thoughtful technical questions from the SEC. However, this move can be seen as a positive development, signaling a more engaged and data-driven evaluation process.&nbsp; 
Wood pointed out that the SEC’s research team’s expertise and knowledge provided a sense of confidence in the ongoing dialogue between applicants and the regulatory body. She accepted the likelihood of short-term price volatility. 
She believes that approval of spot Bitcoin ETFs will pave the way for institutional investors to enter the crypto space. In this move, She anticipates a “sell on the news” scenario in the short term, where investors capitalize on the pre-approval price surge.&nbsp; 
However, Wood underscores the long-term positive impact. She added that institutional inflows resulting from ETF approval could contribute to the sustained growth of the crypto market. What’s next after SEC approval? 
Wood Further discussed the Ark Innovation ETF’s diversification strategy. She indicated a re-entry into some previously sold stocks and expressed eagerness for the reopening of the initial public offering (IPO) window.&nbsp; 
As the interest rates are expected to stabilize, Wood foresees more companies going public. This will eventually present opportunities for Ark to be “eager investors.” She specifically mentioned companies like SpaceX, Anthropic, Databricks, and Discord as potential candidates she would like to see go public. 
Bloomberg’s ETFs and Crypto expert, James Seyffart, reveals that Grayscale has filed a new amended S-3, signaling its intention to convert $GBTC into a Bitcoin ETF. This move comes in as Grayscale, previously resistant to cash-only creations, takes steps toward compliance. The existence of an AP agreement remains a crucial but uncertain factor. 
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Cathie Wood expects ‘Sell on the News’ with Bitcoin ETF approval

Todayq News

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