Cathie Wood, CEO of Ark Invest, talked about spot Bitcoin ETF filling and revealed her predictions that its approval from the SEC is likely this week.
In today’s interview, Catheter said, “The probability is very high that Bitcoin ETFs will be approved this week.” She also believes that the SEC gets all the answers to their inquiries regarding the spot Bitcoin ETF because of their repeated denials of the proposal.
In the past, Blackrock had a meeting with the SEC to discuss the Bitcoin ETF. Due to this Bitcoin ETF filing the price of Bitcoin went upto $40,0000 from $30,000
“We think the flows into this new asset class, especially institutional flows, but also retail flows, retail has led the charge of course, they’re going to be quite substantial,” Wood said.
She stated that currently, most Bitcoin purchases are made by private investors. They anticipate this to continue, as well as the impending arrival of major investors.
She also said that Bitcoin is getting scarce. There’s a limited amount of it, and it’s getting harder to find new ones. A small amount of money from major investors will cause the price of Bitcoin to soar.
In response to a query regarding the recent sale of Coinbase shares by Ark Investment, she stated that there has been trading both Tesla and Coinbase and a lot of the largest stock into their flagship portfolio.
Additionally, Wood stated that she thinks Bitcoin will see increased investment flows, especially from the institutional sector, calling the cryptocurrency “digital gold.”
Also Read: Cathie Wood Expects Spot BTC ETF Approval As ‘Sell on News’
