Bitcoin ETF Could be Approved By January: Cathie Wood
Cathie Wood Optimistic: U.S. Approval of Bitcoin ETF Expected in January 2024, Signaling Institutional Crypto Boom Ahead!
CEO of ARK Invest, Cathie Wood has shown her confidence about the U.S. approving a spot Bitcoin ETF soon. She stated her observation, saying that the SEC is asking more detailed questions in the recent meetings that they had with companies filing for the ETF, like Blackrock and Grayscale. Compared to the SEC's previous denials, this thorough questioning is a good sign from the SEC.
Wood explained that during these questions, clear communication with the SEC is crucial. She said, "We don't want approval if there's any uncertainty." The ongoing dialogues with the SEC are positive and moving forward.
In an interview with Yahoo Finance, Wood expressed her belief that a spot Bitcoin ETF approval looks promising and would likely be in January 2024. Investors expect the approval to be a big step for institutional investors to join the crypto market.
Currently, Bitcoin's price is stable at around $42,000. Traders and investors are looking forward to potential gains in 2024, especially with the Bitcoin Halving event expected in the second quarter.
