Cathie Wooden, the CEO and CIO of ARK Make investments, commented on pending spot Bitcoin ETF functions throughout a CNBC interview on Oct. 16.
As ARK Make investments is one in every of a number of asset managers pursuing a spot Bitcoin ETF, Wooden started by describing the present state of her firm’s utility, 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 principally all we will say.”
The U.S. Securities and Change Fee (SEC) printed preliminary requests for feedback on choose spot Bitcoin ETF functions in late September. Although ARK Make investments was not one of many corporations that originally obtained a request from the company, it nonetheless responded by updating its utility on Oct. 11.
In the course of the present interview, Wooden instructed 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 instructed that many commentators consider a spot Bitcoin ETF might be accredited by the tip of the yr, Wooden instructed that this might be resulting from ARK’s personal approval deadline. The SEC should attain a choice on ARK’s proposal by Jan. 10, 2024. Although ARK’s utility is first in line, Wooden famous that a number of ETFs might be accredited directly — echoing one in every of her earlier statements from August.
BlackRock CEO didn’t hear approval rumor
Wooden’s feedback adopted a number of hours of frantic buying and selling after rumors circulated on social media that the SEC had accredited BlackRock’s spot Bitcoin ETF utility; these rumors, nonetheless, have 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, nonetheless, he expressed the view that right now’s rally was doubtless primed by markets’ rising curiosity in a “flight to high quality” amongst rising geopolitical tensions related to Hamas’ conflict in opposition to Israel.
Crypto, Fink stated, alongside Treasuries and gold, might enchantment 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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