Ark Invest CEO Cathie Wood has expressed optimism about the potential approval of a Bitcoin Exchange-Traded Fund (ETF) by the U.S. Securities and Exchange Commission (SEC). During an interview with CNBC’s “Halftime Report” host today, Wood highlighted the growing optimism within the crypto community regarding Bitcoin ETFs.
The businesswoman began by acknowledging that ARK Invest had responded to the SEC’s request for information about their Bitcoin filing. Although she did not disclose specific details, she hinted that the SEC’s inquiries signified a change in behavior, which had raised hopes for the approval of one or many Bitcoin ETFs.
It is worth noting that there has been a growing consensus that the SEC would soon release a directive detailing its approach to enforcing decisions on Bitcoin ETFs which would serve as the catalyst for approving multiple Bitcoin ETFs by year-end.
This follows a recent court ruling that deemed the SEC’s rejection of Grayscale Investments’ application to establish a spot BTC ETF as incorrect. With the prospects of the SEC pursuing an appeal low, many feel that the agency is left with little options but to approve the product.
Notably, Wood’s remarks came on the heels of a series of erroneous reports circulating earlier on Monday claiming that the SEC had approved BlackRock’s application for a spot Bitcoin ETF.
These reports temporarily propelled the price of Bitcoin to the $30,000 mark. However, the euphoria was short-lived, as the price rapidly retreated to approximately $28,322, triggering a cascade of liquidations, after various experts raised doubts.
Later, BlackRock swiftly refuted the claim, stating that their application was still under review, leading the publications to delete their reports and apologize.