Cathie Wood Says SEC Will Approve Multiple Bitcoin ETFs at Once

Cathie Wood said that the US Securities and Exchange Commission may approve multiple spot-Bitcoin ETFs at the same time, reversing an earlier view that her firm would be first in line to get potential approval for the long-awaited product.

“I think the SEC if it’s going to approve a Bitcoin ETF, will approve more than one at once,” the ARK Investment Management CEO and CIO told Bloomberg TV Monday.

In June, ARK said it was first in line to get potential approval for a spot-Bitcoin exchange-traded fund, due to the early timing of the investment firm’s application with the SEC. Now, Wood has changed her tune, suggesting that the regulator may green-light a number of applications all at once. That could help even the playing field for the products which could potentially usher in more than $50 billion of demand.