In an interview, Cathie Wood, CEO of ARK Invest, shared her insights that the SEC may adopt a groundbreaking strategy of approving multiple BTC ETFs at the same time.
Wood asserted: “I think if the SEC wants to approve a BTC ETF, it will approve multiple at once.”
Her statement raised eyebrows, especially given her previous assurances that her firm would be the first to receive approval for a spot BTC ETF.
Wood’s forecast deviates from the SEC’s practice of approving ETFs sequentially.
By envisioning simultaneous approval scenarios, she proposes a new approach that could simplify the regulatory process. This potential shift is intended to promote a balanced, inclusive investment climate that meets projected demand in excess of $50 billion.
Historically, the SEC has not approved spot BTC ETFs, but has allowed listings of ETFs linked to futures in the Crypto market.
Wood’s forward-looking statement comes amid a surge in filings, with major players such as BlackRock Inc, Fidelity, WisdomTree and Invesco among others In the process of getting approval for an ETF similar to Ark Investments.
Wood’s forecast also highlights the importance of strategic marketing.
Given the similarities between the various funds, Wood suggested that the marketing prowess of issuers will be key to differentiating them, as a race for dominance is expected.
As Cathie Wood’s forecast reverberates through the financial sphere, industry watchers are anxiously awaiting the SEC’s response.
The application deadline for Ark Ventures is approaching, and speculation is rife about possible delays. Wood said the deadline could pass or be extended, but people would be eagerly awaiting it.
Ark Investment submitted its spot BTC ETF application on May 15, earlier than other companies such as BlackRock. According to Wood’s Ark being the number one spot BTC ETF, this is considered an interesting race.
Wood is known for her innovative ideas and the companies behind them, and her investment management firm, Ark Investments, owns a number of high-value stocks such as CoinBase Global (COIN), Tesla (TSL) and Block (SQ), among others.
Wood also reportedly bought $100,000 worth of BTC at $250 each several years ago and never sold a single one.
