Cathie Wood remarked on Monday that she expects another postponement for ARK Invest’s planned spot bitcoin exchange-traded fund (ETF). The Securities and Exchange Commission (SEC) in the United States is nearing the end of its assessment period for the fund, which is slated to finish next week.
Wood acknowledged the prospect of a postponement during an interview with Bloomberg Television, agreeing that the deadline of August 13 might not be met. She also stated that if the SEC decides to approve a Bitcoin ETF, numerous approvals will most likely be issued concurrently.
The SEC is now considering applications for eight different ETFs from various asset managers, including well-known brands like BlackRock, Fidelity, VanEck, and Invesco, which were approved the previous month. In terms of decision dates, the ARK 21 Shares Bitcoin ETF is ahead of the field. The SEC, however, has the option of extending these dates.
Cathie Wood predicts further postponement as the ARK Bitcoin ETF review nears completion.
Cathie Wood has projected that the proposed ARK Invest spot bitcoin ETF would be delayed further. Because the U.S. The Securities and Exchange Commission’s assessment phase for the fund concludes next week, and Wood’s findings imply that the anticipated approval may not occur as planned.
The prospective launch of a spot bitcoin ETF has sparked industry optimism, resulting in a 20% increase in the price of bitcoin following BlackRock’s filing. However, SEC Chair Gary Gensler has highlighted concerns about possible fraud and market manipulation in the industry. Grayscale has claimed that any future approvals should include previously unapproved products after the SEC rejected its plan to transform its flagship GBTC fund into a spot bitcoin ETF.
Wood went on to say that the majority of these ETFs are likely to have identical characteristics, thus the distinction comes down to successful marketing and messaging tactics.
