US investor and chief executive officer of ARK Invest, Cathie Wood displayed high confidence on the prospects of a spot Bitcoin ETF becoming a reality soon in the United States. She also shed light on the attitude of the SEC on gaining clarity on the nitty-gritties of the ETF filings.
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Wood said that in the context of the SEC previously denying spot ETF approvals, the agency officials have in the recent meetings with the filers asked thoughtful, detailed and technical questions. She added that the Commission had in the discussions asked several follow up questions and not just a set of questions, which is a very encouraging move. Earlier, CoinGape reported that Blackrock and Grayscale were among those companies that had the most number of meetings with SEC officials over the spot ETF filings.
Cathie Wood welcomed the extensive discussions with ETF seekers, stating that the companies do not want the SEC to have any uncertainties.
“We don’t want the spot Bitcoin ETF to get the green light if there are any uncertainties that the SEC may have. We are answering the SEC’s queries one by one and the dialogues are very positive.”
Speaking to Yahoo Finance, she explained that the outlook for a spot Bitcoin ETF approval is very bright, expressing confidence of the approval happening in January 2024. This rules out the possibility of an early approval as soon as before the end of 2024, owing to the ongoing deliberations. The approval of the spot ETFs will give the green light for institutional investors to participate in the crypto market, she said.
Meanwhile, the Bitcoin (BTC) price remains largely stagnant around the $42,000 level, while traders and investors continue to anticipate significant returns going into 2024 with the Bitcoin Halving scheduled for the second quarter of 2024.
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