• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
ETFs_and_Bitcoin_Illustration._Newsbtc_bitcoin_news
Nexo Logo

Cathie Wood: Bitcoin ETF Could Soon be Close

Rick Delafont by Rick Delafont
5 years ago
in Bitcoin
Reading Time: 2 mins read
Advertisement

CEO of ARK Investment Management, Cathie Wood made some bullish comments about Bitcoin on Bloomberg earlier today. She believes that it’s only a matter of time before an Exchange Traded Fund is approved but we should expect to see closed-end funds much sooner.

I wouldn’t be surprised if we saw a closed-end fund before a bitcoin ETF. I don’t think we’ll see an ETF within a year, but maybe within two years and with a lot of education.

Wood cites the lack of knowledge surrounding cryptocurrency as the main barrier to the first Exchange Traded Fund. She also highlights the necessity of regulation within the space. Believing Bitcoin to be a financial security, she holds that the responsibility for legislating will lie with the SEC.

The US Securities Exchange Commission have already knocked back multiple attempts at setting up a strictly crypto ETF. In March this year, two high profile efforts by the Winkelevoss Twins got turned down. The reasoning cited was that the market was too unregulated, and there were insufficient surveillance-sharing agreements between exchanges. It’s expected that once the green-light is finally given for a crypto ETF, a lot of money will pour in. Bloomberg’s Eric Balchunas said the approval of an ETF for something was “getting it ready for prime time” and that it was “good for bitcoin because it’s going to open up a world of new investors.”

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

In the piece for Bloomberg, Wood also addressed the now infamous comments Jamie Dimon made last month. Responding to the JP Morgan Chase CEO calling Bitcoin a “fraud”, she said:

Jamie is talking about store of value. I actually think this [Bitcoin] has a lot over fiat currencies.

Finally, the ARK exec spoke about the recent interest Goldmach Sachs had expressed in cryptocurrencies. She was optimistic of the legitimacy they’d lend to the space, which would translate into greater liquidity, and a more appealing ecosystem within which a crypto ETF could be launced.

If they start trading in cryptoassets and developing futures and derivatives that is only going to make the ecosystem stronger, which is what the SEC is looking for.

At present, Wood’s ARK Innovation Exchange Traded Fund allows clients some exposure to cryptocurrency. It acquires these through the Bitcoin Investment Trust which are the “first publicly quoted securities solely invested in and deriving value from the price of Bitcoin”. The ARK Innovation ETF focuses primarily on disruptive, and innovative technologies. It’s only natural, therefore, that Bitcoin would have a place within the securities offered there.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

 

 

 

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.
Tags: bitcoinBitcoin ETFBitcoin newsBitcoin Use Casebitcoin winklevossexchange traded fundmainstream adoptiontradingwinklevoss
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Related Posts

Bitcoin price

Why Bitcoin At $100K Is Just A “Matter Of Time”, Says Bloomberg Intelligence

1 hour ago
Glassnode: Bitcoin Long-Term Holders Have Shifted To Distribution Recently

Glassnode: Bitcoin Long-Term Holders Have Shifted To Distribution Recently

4 hours ago
bitcoin

Market Sentiment Holds Steady As Bitcoin Aims For $24,000

7 hours ago
Analysts Predicts Bitcoin Will Plunge Shortly But Suggest Buy Bitcoin

Analysts Predicts Bitcoin Will Plunge Shortly But Suggest Buy Bitcoin

1 day ago
Bitcoin Bull

Bitcoin Bullish Signal: Whale Exchange Inflows Remain Down

2 days ago
Bitcoin

Bitcoin Whales Turn Bearish?, What’s In Store For BTC Over The Weekend

3 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

The Main Reason Why GNOX (GNOX) Could Flip Dogecoin (DOGE) And Shiba Inu (SHIB) In 2023

August 8, 2022

The Next Bullish Wave in Crypto Could Generate Huge Profits for Uniglo (GLO), Fantom (FTM), and Optimism (OP)

August 8, 2022

The FishVerse Announces the First Ultimate Fishing Metaverse

August 8, 2022

Bware Labs announces the Blast Incentivized Testnet, code-named Houston

August 8, 2022

MEXC to List AURA Network, Supporting NFTs Adoption for More Possibilities

August 8, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.