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International Business Times
International Business Times
Business
Nica Osorio

Spot Bitcoin ETF Approval Will Have Short-Term Impact On BTC Price: Cathie Wood

Bitcoin Cathie Wood ETF SEC 21Shares Ark Invest Ethereum

KEY POINTS

  • Wood expressed optimism of a likely approval announcement by the SEC by Jan. 10
  • Wood said Bitcoin is a hedge against inflation and deflation and within five years, it will be treated like an investment in physical gold
  • Bitcoin was trading in the red zone at $42,468.92 as of 3:55 a.m. ET on Wednesday

Cathie Wood, the founder and CEO of ARK Invest, has expressed optimism over the approval of spot Bitcoin exchange-traded fund (ETF) applications by the U.S. Securities and Exchange Commission (SEC). She predicted that the potential approval would have a short-term impact on the price of the world's largest crypto asset by market cap.

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