Cathie Wood, Chief Investment Officer and Portfolio Manager at ARK Investment Management LLC, has hypothesised that the United States Securities and Exchange Commission (SEC) would approve many spot Bitcoin ETFs all at the same time.
During an interview with Bloomberg on August 7, 2023, Wood, who has over 40 years of experience and started ARK in 2014, provided this significant prediction. The conversation took place in 2023.
An application for a spot Bitcoin exchange-traded fund was submitted by ARK Investment Management in June of 2023. ARK Investment Management is well-known for its focus on disruptive innovation, and the firm submitted the proposal.
The growing interest from major financial firms like BlackRock, Fidelity, WisdomTree, VanEck, and Invesco, all of which have submitted applications for spot Bitcoin ETFs similar to ARK’s, reflects a broader trend in the market.
Grayscale, a prominent digital currency investment…
