ARK Make investments CEO Cathie Wooden thinks the U.S. Securities and Trade Fee (SEC) will resolve on a number of Bitcoin (BTC) spot exchange-traded funds (ETFs) on the identical time.
In a brand new interview with Bloomberg Tv, Wooden says the SEC determination date for ARK’s 21Shares Bitcoin spot ETF application, at the moment scheduled for August thirteenth, will seemingly be prolonged.
“I believe the SEC, if it’s going to approve a Bitcoin ETF, will approve a couple of without delay… as a result of most of those primarily would be the identical, and it’ll come all the way down to advertising and marketing, speaking the message.”
No US Bitcoin spot ETF purposes have been greenlit to date, although the crypto world eagerly awaits the SEC’s determination on a June application from BlackRock, the world’s largest asset supervisor.
Beforehand determined Bitcoin spot ETF purposes, together with an earlier utility from ARK, have all been denied, although the SEC did approve the launch of the primary Bitcoin futures ETFs in October 2021.
Crypto asset supervisor Grayscale was behind one of many denied ETF purposes, although the agency announced in June that it was suing the SEC over that call, calling it “discriminatory.”
Wooden says in her new interview that she believes the SEC will lose the Grayscale case.
“How will you approve a Bitcoin futures ETF and never a Bitcoin ETF? And in reality, in the event you’re actually desirous about client safety, a futures ETF is swaps area, so there’s a counterparty threat there that you wouldn’t have with a Bitcoin ETF, which is backed 1:1 with Bitcoin in Coinbase’s chilly storage. It nonetheless confounds me.”
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