Ark Invest CEO Cathie Wood Says 'We'd Be Surprised' If SEC Approves 'Anything But Bitcoin And Ether' As Crypto ETFs
Portfolio Pulse from Mehab Qureshi
Cathie Wood, CEO of ARK Investment Management, anticipates that the SEC will only approve Bitcoin and Ethereum for crypto ETFs. ARK has partnered with 21Shares to launch a U.S.-based Ethereum ETF, following the approval of their Bitcoin ETF. Franklin Templeton also filed for an Ethereum ETF. Wood highlighted a shift from gold to Bitcoin, noting a stable, long-term view among cryptocurrency investors.
February 14, 2024 | 5:31 am
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ARK Investment Management, led by Cathie Wood, is focusing on launching crypto ETFs for Bitcoin and Ethereum, indicating a strategic move into the cryptocurrency space.
The anticipation of SEC approval for Bitcoin and Ethereum ETFs, and ARK's partnership with 21Shares for an Ethereum ETF, could attract investor interest in ARK's ETFs, potentially boosting ARK's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Franklin Templeton filed for a spot in Ethereum ETFs, indicating its entry into the cryptocurrency ETF market.
Franklin Templeton's filing for an Ethereum ETF suggests a strategic move to capitalize on the growing interest in cryptocurrency investments, which could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80