The well-known investor and founder of ARK Invest, Cathie Wood, stated on August 7 that she does not anticipate the U.S. Securities and Exchange Commission (SEC) to make a ruling about the firm’s spot Bitcoin ETF filing before the deadline, which is Sunday, August 13, 2023.
Nevertheless, she also does not think that the government would consider each ETF petition separately.
The headlines around the spot ETF registrations from companies like Blackrock, Valkyrie, Wisdom Tree and Fidelity in recent months played a significant role in pushing the cryptocurrency market in a bullish direction.
There are many ETF-related deadlines scheduled for the US SEC in the first week of September 2023, including those surrounding the Blackrock filing.
Cathie Wood anticipated that the federal regulatory body would decide on the spot Bitcoin exchange-traded funds (ETFs) all at once.
In response to the question of whether the Ark Invest ETF filing will be given priority over the Blackrock application, Wood said it is likely that the US SEC will review multiple applications concurrently.
“The deadline of August 13 will come and go. If the SEC is planning to approve a Bitcoin ETF, I believe it will do it simultaneously with several others. The majority of these (ETF filings) are going to be identical, thus marketing and message distribution will be key.”
The public’s opinion of the cryptocurrency ecosystem may drastically change if a Bitcoin ETF is approved because it will allow the investors to invest directly into the Bitcoin via ETFs.
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