Cathie Wood, founder and CEO of ARK Invest, an investment firm focused on innovative technologies, shared her views on Bitcoin spot ETFs in a recent interview with Bloomberg.
Known for his bullish view of Bitcoin and other cryptocurrencies, Wood stated that he is in the race to launch a Bitcoin spot ETF in partnership with 21Shares, a Swiss-based crypto ETP issuer.
Wood said he expects the SEC to delay the decision on the first Bitcoin spot ETF application, which has a deadline of August 13. Wood also said that he thinks the SEC will approve multiple Bitcoin spot ETFs at the same time, if it decides, to produce an even competitive space among competitors.
He added that most Bitcoin spot ETFs will be basically the same and this will depend on marketing and getting the message across.
Wood also highlighted his firm's expertise and experience in Bitcoin, saying that ARK Invest has been conducting deep research on Bitcoin since 2015 and is the first public asset manager to invest in Bitcoin through the Grayscale Bitcoin Trust (GBTC).
He said ARK Invest is trying to publicize its research through its Bitcoin Monthly newsletter and Bitcoin brainstorming sessions.
However, Wood declined to comment on whether he would sell GBTC and buy one of the physically backed Bitcoin spot ETFs if approved by the SEC. He said that the compliance team instructed him not to talk much about the application and after.
*Not investment advice.
Wood is a woman, not a “he.” Did AI write this article?!?