Cathie Wood's ARK Invest Claims Top Spot In Approval Race For Spot Bitcoin ETF
Portfolio Pulse from Mehab Qureshi
ARK Investment Management claims to be the first in line for approval of a spot-Bitcoin ETF, ahead of BlackRock. Other asset managers such as Invesco, WisdomTree, and Valkyrie have also filed applications for their own Bitcoin funds.
June 27, 2023 | 11:22 am
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POSITIVE IMPACT
The race for spot-Bitcoin ETF approval among asset managers may increase interest in Bitcoin and potentially impact its price.
As more asset managers file applications for spot-Bitcoin ETFs, it may increase interest in Bitcoin and potentially impact its price positively in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
BlackRock's spot-Bitcoin ETF approval may be delayed as ARK Invest claims to be ahead in the race.
ARK Invest's claim to be ahead in the approval race for a spot-Bitcoin ETF may delay BlackRock's approval, but it is not clear how this will impact BlackRock's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80