Cathie Wood Anticipates Approval of First Spot Bitcoin ETF This Week

Cathie Wood, the CEO and Chief Investment Officer of Ark Invest, is optimistic about the imminent approval of the first Spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). Wood's confidence is based on her assessment of the current environment and the increased possibility of the ETF's green light this week.

High Probability for Bitcoin ETF Approval

In a recent CNBC interview, Wood expressed her belief in the high probability of the SEC's approval for a Spot Bitcoin ETF. Such an approval would mark a watershed moment, as it would be the first of its kind. Wood's anticipation suggests that she sees a favorable outcome on the horizon, potentially stirring excitement among cryptocurrency enthusiasts and investors.

Institutional Flows Expected

Wood also shared her views on the impact of the approval on investment flows, particularly from institutional investors. She regards Bitcoin as 'digital gold' and expects substantial inflows into the cryptocurrency market. The approval of a Spot Bitcoin ETF would likely bolster institutional participation, as it would facilitate a regulated investment pathway into Bitcoin assets.

Ark Invest Funds Overview

While awaiting the ETF decision, it’s notable to see the performance of Wood's Ark Invest funds. Performance metrics thus far in the year highlight the valuation changes in her suite of actively managed funds, with declines across the board but varying slightly from one fund to another.

• ARK Innovation ETF (NYSEARCA:ARKK) - down 4.7% YTD.
• ARK Next Generation Internet ETF (NYSEARCA:ARKW) - down 3.7% YTD.
• ARK Autonomous Technology & Robotics ETF (ARKQ) - down 4.3% YTD.
• ARK Genomic Revolution ETF (BATS:ARKG) - down 2.9% YTD.
• ARK Fintech Innovation ETF (ARKF) - down 4.7% YTD.
• ARK Space Exploration & Innovation ETF (ARKX) - down 4.5% YTD.

Wood, Bitcoin, ETF