ARK Invest CEO Cathie Wood says that the odds of a January 2024 approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the US are going up.
In a new interview on Bloomberg Television, Wood says that engagement between ARK Invest and the U.S. Securities and Exchange Commission (SEC) over its ETF application is making her believe an approval is more likely than ever before.
“Well, we think the probabilities have gone up, because the SEC has been highly engaged compared to what was happening before. Before, it was just denying approval, denying approval. And we just kept putting our filing in again, you know, try, try, try, dogged and determined. And so we think we’re first in line and that’s why there is this January 10th deadline.
But we like the idea that the SEC has been so engaged, and it’s not just with us, it’s others as well. We think a number of funds could be approved at the same time. And they’ve been asking not only one set of questions, but follow up questions. Again, that’s a very good sign.”
However, Wood warns that there still remains some risk that the SEC does not approve the spot Bitcoin ETFs by January 10th, as many expect.
“The last few questions have been very technical and more de rigueur and you’d expect them to be asking these questions as we head toward an approval. Now, it’s not 100% certain. So we want to make that clear as well. This is the SEC, and we never know what might happen along the way.”
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