Cathie Wooden, the CEO and CIO of ARK Make investments, commented on pending spot Bitcoin ETF purposes throughout a CNBC interview on Oct. 16.
As ARK Make investments is considered one of a number of asset managers pursuing a spot Bitcoin ETF, Wooden started by describing the present state of her firm’s utility, stating:
“It was publicized and disclosed final week that we had responded to the SEC’s request for data round our Bitcoin submitting, and we responded. That’s mainly all we are able to say.”
The U.S. Securities and Trade Fee (SEC) printed preliminary requests for feedback on choose spot Bitcoin ETF purposes in late September. Although ARK Make investments was not one of many corporations that originally obtained a request from the company, it however responded by updating its utility on Oct. 11.
In the course of the present interview, Wooden prompt that the SEC’s questions point out that the company’s stance towards spot Bitcoin ETFs is altering. She added that the SEC’s determination to hunt data might signify that “hopes are rising” for spot Bitcoin ETFs.
When the interviewer prompt that many commentators imagine a spot Bitcoin ETF could possibly be authorised by the top of the 12 months, Wooden prompt that this could possibly be on account of ARK’s personal approval deadline. The SEC should attain a call on ARK’s proposal by Jan. 10, 2024. Although ARK’s utility is first in line, Wooden famous that a number of ETFs could possibly be authorised without delay — echoing considered one of her earlier statements from August.
BlackRock CEO didn’t hear approval rumor
Wooden’s feedback adopted a couple of hours of frantic buying and selling after rumors circulated on social media that the SEC had authorised BlackRock’s spot Bitcoin ETF utility; these rumors, nevertheless, have been unfounded.
BlackRock CEO Larry Fink appeared later within the day on Fox Enterprise, saying in an interview that he had “solely heard [about] it an hour in the past,” implying that he was unfamiliar with the rumor. In the identical interview, nevertheless, he expressed the view that right this moment’s rally was seemingly primed by markets’ rising curiosity in a “flight to high quality” amongst rising geopolitical tensions related to Hamas’ battle towards Israel.
Crypto, Fink mentioned, alongside Treasuries and gold, could attraction to buyers as because of this.
The SEC has not issued any updates on spot Bitcoin ETF approvals, and particular person members of the SEC haven’t commented on the BlackRock approval rumor.
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