Kwun Kau Tam
Cathie Wooden, CEO and CIO of Ark Make investments, feels assured that the U.S. Securities and Change Fee will inexperienced gentle the world’s first Spot Bitcoin (BTC-USD) alternate traded fund later this week.
“We do suppose the likelihood may be very excessive that Bitcoin ETFs can be authorised this week,” Wooden stated in an interview with CNBC.
Moreover, Wooden indicated that she believes Bitcoin will see even additional investor flows notably from the institutional aspect as she referred to the cryptocurrency as “digital gold.”
“We predict the flows into this new asset class, particularly institutional flows, but in addition retail flows, retail has led the cost after all, they are going to be fairly substantial,” Wooden acknowledged, including that “it will not take a lot of an allocation by establishments into Bitcoin to drive what’s turning into a scarce asset a lot larger.”
With a possible approval of a Spot Bitcoin ETF looming, the innovation-focused investor elaborated that this could present institutional cash with the inexperienced gentle because the SEC could be paving the best way for future funding.
Furthermore, see how Cathie Wooden’s six actively managed alternate traded funds have traded within the early a part of 2024.
- ARK Innovation ETF (NYSEARCA:ARKK) -4.7% YTD.
- ARK Subsequent Technology Web ETF (NYSEARCA:ARKW) -3.7% YTD.
- ARK Autonomous Expertise & Robotics ETF (ARKQ) -4.3% YTD.
- ARK Genomic Revolution ETF (BATS:ARKG) -2.9% YTD.
- ARK Fintech Innovation ETF (ARKF) -4.7% YTD.
- ARK Area Exploration & Innovation ETF (ARKX) -4.5% YTD.