ARK Invest CEO Cathie Wood announced that her hope for Bitcoin ETF approval in the United States has increased.

Wood stated that the “odds have increased” on this matter. Therefore, she demonstrated a positive outlook for the future of cryptocurrency investment products.

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ARK Invest entered the European market by purchasing a UK-based ETF in recent months. They also applied to the SEC in April in collaboration with Switzerland-based 21Shares to launch a spot Bitcoin ETF.

In Wood’s recent statements, she said, “If approved by the SEC, we hope to launch a Bitcoin ETF. We believe that the likelihood of approval has increased by partnering with 21Shares in the USA.”

Wood, who stated that regulators often cause trouble in such initiatives, noted that she does not expect a major problem for ARK Invest, which aims to offer more crypto products in Europe. Wood said, “According to my own feelings, it seems like there will not be any problem in this regard. However, we are still working with our partners with whom we are collaborating with the regulators.”

BlackRock’s application for a Bitcoin ETF had raised the hopes of cryptocurrency investors. The SEC is expected to announce its decision on the delay, acceptance, or rejection on January 10.

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The post Will Bitcoin Spot ETF Be Approved? Cathie Wood Revealed! appeared first on Coin Engineer.

The SEC, in its statement following this decision, stated that “The Commission finds it appropriate to set a longer period in order to have sufficient time to assess the proposed changes and any problems that may arise in relation to this.” In addition, ARK21Shares and VanEck have also postponed their ETF applications by the SEC.

Evaluation process for ETF applications should be completed within a maximum of 240 days from the date of entry to the Federal Register.

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Therefore, the SEC could postpone a decision on current applications until the end of 2024. Additionally, considering additional requests for public feedback, there is a chance that they might further delay this decision.

Typically, the SEC can delay decisions by fully using the 240-day period. Therefore, decisions on ETF applications from companies like BlackRock, WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise, and Valkyrie Digital Assets are expecting to be take by mid-October.

This postponement process leads to a waiting period among investors and companies while allowing for a more detailed examination of applications. While waiting for the results of ETF applications, we will be closely monitoring the upcoming months to see how financial markets will react to these developments.

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The post SEC postpones ARK21Shares and VanEck ETF Applications! appeared first on Coin Engineer.