Cathie Wooden, the CEO and CIO of ARK Make investments, commented on pending spot Bitcoin ETF functions throughout a CNBC interview on Oct. 16.
As ARK Make investments is one in all 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 will say.”
The U.S. Securities and Alternate Fee (SEC) printed preliminary requests for feedback on choose spot Bitcoin ETF functions in late September. Although ARK Make investments was not one of many corporations that originally obtained a request from the company, it nonetheless responded by updating its utility on Oct. 11.
Throughout 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 resolution to hunt data may signify that “hopes are rising” for spot Bitcoin ETFs.
When the interviewer prompt that many commentators imagine a spot Bitcoin ETF could possibly be authorized by the top of the 12 months, Wooden prompt that this could possibly be resulting from 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 authorized without delay — echoing one in all her earlier statements from August.
BlackRock CEO didn’t hear approval rumor
Wooden’s feedback adopted just a few hours of frantic buying and selling after rumors circulated on social media that the SEC had authorized 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 in the present day’s rally was doubtless primed by markets’ rising curiosity in a “flight to high quality” amongst rising geopolitical tensions related to Hamas’ struggle towards Israel.
Crypto, Fink mentioned, alongside Treasuries and gold, could enchantment to buyers as for that reason.
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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