Featured image from Markets Insider, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
CEO of ARK Invest, Cathie Wood has shared her perspective on the approval timeline for Spot Bitcoin ETFs. She has also highlighted the significant impact the official authorization of Bitcoin ETFs would have on the price of BTC. BTC Price Boom Predicted Following ETF Acceptance Founder and CEO of American asset investment management firm, ARK Invest, Catherine Duddy Wood has recently appeared in an interview with Yahoo Finance. The live interview which was published via YouTube centers on Wood\u2019s views and opinions regarding the potential approval of Spot Bitcoin ETFs and its effect on the price of BTC.\u00a0 Related Reading: Top Banker Reveals Why XRP Price Will Rise 390,000% To $2,500 According to the ARK Invest CEO, the price of BTC could surge substantially if the United States Securities and Exchange Commission (SEC) approves Spot Bitcoin ETFs for institutional investors.\u00a0 \u201cWhat we think is going to happen here is that the SEC is going to be giving BTC, a spot bitcoin ETF, the green light for institutional investors to participate. I think a lot of institutions have been reticent before the SEC approves a spot bitcoin ETF to do very much at all in the crypto asset world,\u201d Wood stated. She added: \u201cAll we need is for the trillions of dollars in institutional assets out there to allocate maybe 0.1% or 0.2% to an ETF, which will be one of the easiest ways to gain exposure and one of the most efficient ways to gain exposure to BTC. That will move the price significantly.\u201d\u00a0 BTC price fails to beat resistance at $43,000 | Source: BTCUSD on Tradingview.com Bitcoin ETF Approval Expected In January During the interview, Wood outlined a timeline for the approval of Spot Bitcoin ETFs, predicting the potential approval dates for January.\u00a0 \u201cWe do think it will be in January. Famous last words, don\u2019t want to say we know anything, because we don\u2019t. But it\u2019s just the actions of the SEC that are leading us to that conclusion,\u201d Wood said. Related Reading: Dogecoin Whale Moves 71 Million DOGE To Robinhood, What Does This Mean For Price? Despite the positive forecast, the ARK Invest founder also stated that if the US SEC remains undecided about Spot Bitcoin ETFs, then a BTC ETF may not be necessary.\u00a0 \u201cWe don\u2019t want a spot bitcoin ETF to get the green light if there are any uncertainties that the SEC may have. So I think we\u2019re answering those uncertainties one by one, each of the filers for a spot bitcoin ETF. And I think the dialogues are very positive. I think the outlook is bright for a spot bitcoin ETF,\u201d Wood stated. Featured image from Markets Insider, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":567354,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8861,428,656,1119,89185,1144,78790,55016,1944,89193,84647],"class_list":["post-567349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ark-invest","tag-bitcoin","tag-bitcoin-news","tag-btc","tag-btc-news","tag-btcusd","tag-btcusdt","tag-cathie-wood","tag-etf","tag-etf-news","tag-spot-bitcoin-etf"],"acf":[],"yoast_head":"\n
ARK Invest Pivots To Bitcoin As Cathie Wood Expects BTC Price To Explode<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n