CEO of ARK Invest, Cathie Wood, has shared her views on the approval timeline for Spot Bitcoin ETFs. She also highlighted the significant impact that the official authorization of Bitcoin ETFs would have on the price of BTC.
BTC Price Rise Predicted After ETF Adoption
Founder and CEO of the American asset manager, ARK Invest, Catherine Duddy Wood recently appeared in an interview with Yahoo Finance. Life interview which was published via YouTube is about Wood’s views and opinions regarding the potential approval of Spot Bitcoin ETFs and its effect on the price of BTC.
According to the CEO of ARK Investthe price of BTC could rise significantly if the US Securities and Exchange Commission (SEC) approves Spot Bitcoin ETFs for institutional investors.
“What we think will happen here is that the SEC will give BTC, a spot bitcoin ETF, the green light for institutional investors to participate. I think many institutions have been hesitant before the SEC approved a spot bitcoin ETF that could make a big difference in the world of crypto assets,” Wood said.
She added:
“All we need is for the trillions of dollars of institutional assets out there to be allocated maybe 0.1% or 0.2% to an ETF, which will be one of the easiest ways to gain exposure and one of the most efficient ways to gain exposure to BTC. . That will move the price significantly.”
BTC price fails to beat resistance at $43,000 | Source: BTCUSD on Tradingview.com
Bitcoin ETF Approval Expected in January
During the interview, Wood outlined a timeline for the approval of Spot Bitcoin ETFs, predicting its potential approval dates for January.
“We think it will be in January. Famous last words, I don’t want to say we know anything, because we don’t. But it is the SEC’s actions that lead us to this conclusion,” Wood said.
Despite the positive forecast, the ARK Invest founder also stated that if the US SEC remains undecided Discover Bitcoin ETFsthen a BTC ETF may not be necessary.
“We don’t want a spot bitcoin ETF to get the green light if there are uncertainties with the SEC. So I guess we’ll answer these uncertainties one by one, each of the proposers of a spot bitcoin ETF. And I think the dialogues are very positive. I think the outlook is bright for a spot bitcoin ETF,” Wood said.
Featured image from Markets Insider, chart from Tradingview.com
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