EXCLUSIVE: Watch Cathie Wood Predict SEC's Loss In Bitcoin ETF Case In Benzinga Interview
Portfolio Pulse from Chris Katje
A federal appeals court has vacated the SEC's rejection of Grayscale Investments' application to convert the Grayscale Bitcoin Trust into an ETF. This ruling could potentially lead to the approval of more Bitcoin ETFs. Cathie Wood, founder of Ark Invest, had predicted this outcome and believes that the approval of Bitcoin ETFs could increase demand for Bitcoin. Grayscale Bitcoin Trust and Coinbase are significant holdings in several Ark Invest ETFs.
August 30, 2023 | 2:05 pm
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POSITIVE IMPACT
The Ark Fintech ETF, which has Coinbase as its largest holding, could be impacted by the potential approval of more Bitcoin ETFs.
As Coinbase is the largest holding in the Ark Fintech ETF, the potential approval of more Bitcoin ETFs could increase demand for ARKF shares.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The Ark Next Generation ETF, which has Coinbase as a top five holding, could be impacted by the potential approval of more Bitcoin ETFs.
As Coinbase is a top five holding in the Ark Next Generation ETF, the potential approval of more Bitcoin ETFs could increase demand for ARKK shares.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The Ark Next Generation Internet ETF, which has Grayscale Bitcoin Trust as its third-largest holding, could be impacted by the potential approval of Grayscale's conversion into an ETF.
As Grayscale Bitcoin Trust is the third-largest holding in the Ark Next Generation Internet ETF, the potential approval of Grayscale's conversion into an ETF could increase demand for ARKW shares.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The potential approval of more Bitcoin ETFs could increase demand for Bitcoin, leading to a rise in its price.
The potential approval of more Bitcoin ETFs could increase demand for Bitcoin, as it has a fixed supply. This could lead to a rise in the price of Bitcoin.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Coinbase, which has partnered with many Bitcoin ETFs that have filed applications, could benefit from the potential approval of more Bitcoin ETFs.
As a partner of many Bitcoin ETFs that have filed applications, Coinbase stands to benefit from the potential approval of more Bitcoin ETFs. This could increase demand for COIN shares.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Grayscale Bitcoin Trust's application to convert into an ETF has been vacated by a federal appeals court. This could potentially lead to the approval of the conversion.
The court's decision to vacate the SEC's rejection of Grayscale's application could potentially lead to the approval of the conversion. This would likely increase the demand for GBTC shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100