Cathie Wood Hints at Spot Bitcoin ETF Approval Date in January

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Dailycoin2023/12/27 13:28

By:Dailycoin

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Cathie Wood has predicted the spot Bitcoin ETF approval date.
The CEO believes the SEC has “set a deadline for itself” to approve applications.
The sentiments come as the regulator’s deadline draws near.

Ark Invest CEO Cathie Wood has shared some “encouraging signs” that the U.S. Securities and Exchange Commission (SEC) might approve spot Bitcoin ETF applications as early as January.

The sentiments come as the SEC is due to approve or reject a joint spot Bitcoin ETF proposal from ARK and 21Shares by January 10, following the regulator’s call for issuers to submit their amended filings by Friday, December 29.

While the regulator has pushed deadlines before, Wood believes approval is imminent.

Wood Forecasts SEC’s Approval Date

In an interview with CNBC, Wood stated that Ark and 21Shares were “very encouraged” that the SEC had reached a satisfaction and was “setting a deadline for itself” to approve spot Bitcoin ETFs by January 10 by calling out issuers to put their filings in order.

“I think the messaging around the 29th is look if you’re not going to be ready to go on or around, lets say, January 10, then do not submit anything more to us because we have too much to do here,” Wood stated, referring to the SEC’s recent directive on filing amendments.

Wood lauded the depth of the SEC’s knowledge of the issue on the spot Bitcoin ETFs following what she termed as “back and forth” questioning of issuers by the regulator. Wood was referring to the recent meetings the regulator held with applicants.

While the CEO is optimistic that the SEC will approve Ark and 21Shares applications, among others, on January 10, the SEC is on record rejecting multiple proposals to launch a spot Bitcoin ETF in recent years, citing crypto market vulnerability and manipulation concerns.

The only crypto ETFs the securities watchdog has approved are tied to Bitcoin and Ethereum futures contracts trading on the Chicago Mercantile Exchange (CME).

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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