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 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 mainly all we will 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 companies that originally acquired a request from the company, it however responded by updating its software on Oct. 11.
In the course of the present interview, Wooden steered 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 may signify that “hopes are rising” for spot Bitcoin ETFs.
When the interviewer steered that many commentators imagine a spot Bitcoin ETF could possibly be permitted by the top of the 12 months, Wooden steered that this could possibly be because of ARK’s personal approval deadline. The SEC should attain a choice 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 permitted directly — 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 permitted 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 at the moment’s rally was probably primed by markets’ rising curiosity in a “flight to high quality” amongst rising geopolitical tensions linked to Hamas’ warfare in opposition to Israel.
Crypto, Fink stated, alongside Treasuries and gold, might attraction 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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