ARK Make investments CEO Cathie Wooden thinks the U.S. Securities and Alternate Fee (SEC) will determine 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 resolution date for ARK’s 21Shares Bitcoin spot ETF software, at the moment scheduled for August thirteenth, will possible be prolonged.
“I feel 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 right down to advertising and marketing, speaking the message.”
No US Bitcoin spot ETF purposes have been greenlit to this point, although the crypto world eagerly awaits the SEC’s resolution on a June software from BlackRock, the world’s largest asset supervisor.
Beforehand determined Bitcoin spot ETF purposes, together with an earlier software 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 introduced 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 are you going to approve a Bitcoin futures ETF and never a Bitcoin ETF? And actually, if you happen to’re actually excited about shopper safety, a futures ETF is swaps house, so there’s a counterparty danger 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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