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 one among a number of asset managers pursuing a spot Bitcoin ETF, Wooden started by describing the present state of her firm’s software, 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 principally all we are able to say.”
The U.S. Securities and Alternate Fee (SEC) revealed preliminary requests for feedback on choose spot Bitcoin ETF purposes in late September. Although ARK Make investments was not one of many companies that originally obtained a request from the company, it however responded by updating its software on Oct. 11.
In the course of the present interview, Wooden recommended 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 recommended that many commentators imagine a spot Bitcoin ETF could possibly be authorized by the top of the yr, Wooden recommended that this could possibly be because of ARK’s personal approval deadline. The SEC should attain a call on ARK’s proposal by Jan. 10, 2024. Although ARK’s software is first in line, Wooden famous that a number of ETFs could possibly be authorized without delay — echoing one among 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 authorized BlackRock’s spot Bitcoin ETF software; these rumors, nevertheless, had 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 immediately’s rally was probably 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 enchantment to traders 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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