NatalieLopez
8 Jan 24
Cathie Wood of Ark Invest anticipates potential SEC approval for the world's first Spot Bitcoin exchange traded fund this week. In an interview with CNBC, Wood expressed confidence in the high probability of Bitcoin ETFs getting the green light. She also forecasted increased investor flows, particul...
Cathie Wood of Ark Invest anticipates potential SEC approval for the world's first Spot Bitcoin exchange traded fund this week. In an interview with CNBC, Wood expressed confidence in the high probability of Bitcoin ETFs getting the green light. She also forecasted increased investor flows, particularly from institutional investors, referring to Bitcoin as "digital gold", and noted that even a small allocation from institutions could drive up the price of what she describes as a scarce asset. Wood highlighted the potential for the SEC's approval to pave the way for future institutional investment, as well as shared the YTD performances of her six actively managed exchange traded funds.
Wood's remarks signal a positive outlook for Bitcoin and the potential impact of a Spot Bitcoin ETF approval on institutional investment. Her comments indicate a belief in the value and scarcity of Bitcoin, as well as the potential for increased flows from both retail and institutional investors, laying the groundwork for a shift in the dynamics of the cryptocurrency market. Additionally, the data provided on the YTD performance of the six actively managed exchange traded funds managed by Ark Invest offers further insight into the company's positioning within the market.
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