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Cathie Wood: Spot Bitcoin ETF will attract large inflows of institutional funds, driving Bitcoin sharply higher

Cathie Wood: Spot Bitcoin ETF will attract large inflows of institutional funds, driving Bitcoin sharply higher

CointimeCointime2024/01/09 04:11
By:Cointime

Cathie Wood, CEO of Ark Invest, shared her views on the US Securities and Exchange Commission's approval of a Bitcoin ETF during an interview with CNBC. Wood said, "We believe that if we and others receive approval from the US Securities and Exchange Commission, this will give institutions the green light. We have talked to many of them, and now the SEC is effectively paving the way, and they are more interested in this."

When asked about the likelihood of her company's Bitcoin ETF proposal being approved by the SEC, Cathie Wood replied, "We do believe that the probability of a Bitcoin ETF being approved this week is very high, for the reasons we have always said, asking questions - very good questions, very detailed questions, very technical questions - so I think they've asked all the questions they need to answer, and I think most of us have been involved in that process."

Wood also believes that the approval of a Bitcoin ETF may not be the sell-off news that some people predict. Looking at our five-year investment horizon, we believe that the funds flowing into this new asset class, especially institutional funds... will be quite substantial, and institutional allocation to Bitcoin doesn't need to be too much to push this asset, which is becoming scarce, much higher.

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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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