The Signs That The U.S. Securities and Exchange Commission (SEC) Will Approve a Spot Bitcoin Exchange-Traded Fund (ETF) in January Are “Very Encouraging” according to Cathie Wood, CEO of Ark Invest who is collaborating with 21Shares on two futures ETF products centered on Ethereum ETH/USD and Bitcoin BTC/USD.
In a Tuesday interview with CNBC’s Crypto World, Ark Invest’s Wood expressed that the SEC’s “depth of knowledge” and understanding has changed for the better and is likely to lead to approval of the ETF in Jan. 10, 2024. A Spot Bitcoin ETF would act as a stimulus investment for institutions and other investors once they have established a positive foothold into the cryptocurrency space.
Wood also went on to share her prediction for the future of BTC, citing that the token will become more akin to an investment in physical gold within five years and the presence of cryptocurrencies in emerging economies has already been backed by El Salvador. For 2024, the prices of Bitcoin will likely continue to show unprecedented growth, pass inflation and deflation, and go unaffected by crises within established banks.
No matter the result, it is assured that investors will embrace the transparency and decentralized movements of crypto tokens, with little risk of counterparty measures ensuring no losses.
