The Securities and Exchange Commission (SEC) is showing signs of warming up to the idea of a Bitcoin exchange-traded fund (ETF), according to Cathie Wood, CEO of Ark Invest. Wood stated that the SEC’s recent line of questioning regarding the risks and measures associated with a spot ETF indicates a change in behavior and raises hopes for approval. Other investment managers, including BlackRock and Fidelity, have also addressed similar questions from the SEC in their updated prospectuses. Mike Novogratz, CEO of Galaxy Digital, predicts that the SEC will approve his and other ETF applications by the end of the year. The SEC’s recent court loss to Grayscale, the world’s largest Bitcoin fund, may further influence its decision-making process. While some speculate that the SEC may rescind approval for prior Bitcoin futures ETFs, experts believe this outcome is unlikely. Ark’s ETF application is the first to require a final decision by January 10, and Wood suggests that multiple Bitcoin ETFs could be approved simultaneously.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	positive
Relevance Score	1
People	Cathie Wood, Mike Novogratz
Companies	CNBC, BlackRock, Fidelity, Grayscale, Galaxy Digital, Bloomberg, Securities and Exchange Commission (SEC), PrimeXBT, Binance, Franklin Templeton, CryptoPotato, Ark Invest, 21Shares
Currencies	Bitcoin
Securities	None