HomeBITCOINBitcoin ETF Approval Odds Increasing, According to Cathie Wood of ARK Invest

Bitcoin ETF Approval Odds Increasing, According to Cathie Wood of ARK Invest

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Cathie Wood, the CEO of influential innovation investor ARK Invest, has expressed optimism about the potential approval of a Bitcoin spot ETF in the United States. She believes that the “odds are going up” for such a decision. 

Several entities, including Fidelity and BlackRock, are working towards launching a Bitcoin ETF in the U.S., indicating a growing interest in providing investors with easier access to crypto.

The journey to approving a Bitcoin spot ETF in the U.S. has involved various applications, delays, and discussions with the SEC. Prominent financial firms such as VanEck and Fidelity have filed proposals, but the SEC has postponed its decisions on these applications.

However, despite the challenges, Wood remains optimistic. According to Financial News, she stated, “We are partnering with [21Shares] in the US, hoping to launch a bitcoin ETF, if it’s ever approved by the SEC. We think the odds are going up that it will be approved.”

In the absence of a spot ETF, investors have turned to Bitcoin futures ETFs, which have already been approved and are available in the U.S. These ETFs offer exposure to Bitcoin’s price movements through futures contracts traded on regulated exchanges.

Nevertheless, the distinction between spot and futures-based ETFs is significant. Bitcoin spot ETFs provide direct ownership of the underlying asset, Bitcoin itself, while Bitcoin futures ETFs involve contracts based on Bitcoin’s future price, potentially introducing additional complexities and risks. 

While the U.S. grapples with the approval of spot Bitcoin ETFs, other countries like Canada have already approved and launched similar products. 

Wood also expressed confidence that Ark Invest will face no issues in rolling out more crypto products in Europe. However, discussions with regulators are ongoing.

As financial firms, regulators, and the SEC continue their discussions, the crypto community eagerly awaits developments, hoping for the approval of a Bitcoin spot ETF in the near future.

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