“I think if the SEC is going to approve a bitcoin ETF, it’s going to approve multiple bitcoin ETFs at the same time,” Wood said.

Cathie Wood, CEO of ARK Investment Management, believes that the U.S. Securities and Exchange Commission (SEC) may approve multiple spot BTC ETFs at the same time.

Yassine Elmandjra, an analyst at ARK Invest, offered a very different view in late June, predicting that the group — which has also applied to the securities regulator to launch such a financial product — would be the first to receive approval.

Either none, or many at the same time

In a recent interview with Bloomberg, the CEO of Ark Investment said that she expects the SEC to approve multiple spot Bitcoin exchange-traded funds at the same time (if it ultimately decides to say “yes” to such products):

“I think if the SEC was going to approve a bitcoin ETF, it would approve multiple bitcoin ETFs at the same time.”

One of those who supports her thesis is James Seyffart, an ETF analyst at Bloomberg Intelligence. In his view, the “path of least resistance” for the SEC is to approve all, or at least many, of the spot BTC ETFs filed so far.

Recall that some of the world’s leading financial giants, such as BlackRock, Invesco, WisdomTree, Fidelity, etc., have shown ambitions to launch such funds, which would provide consumers with exposure to Bitcoin without having to purchase the asset directly on an online exchange.

The world’s largest asset manager has an excellent record with the SEC, having approved 575 of its 576 ETFs over the years. Somewhat unexpectedly, its foray into the cryptocurrency industry has sparked overall enthusiasm and can be seen as one of the factors that led to the market’s rally since mid-June.

Galaxy Digital CEO Mike Novogratz said that launching a spot BTC ETF in the U.S. is just a matter of “when, not if.” He recently said that according to his internal information, such a product could appear in the next four to six months.

No longer first in the queue?

Wood’s recent thoughts stand in stark contrast to those of analyst Yassine Elmandjra, who predicted a few weeks ago that ARK Invest could become the first company to receive SEC approval, thereby becoming a pioneer in the spot BTC ETF space.

The crypto community expects more clarity on the matter once it sees how the lawsuit between Grayscale and the regulator will unfold. The digital asset manager sued the SEC shortly after the SEC rejected its decision to convert the spot Grayscale Bitcoin Trust (GBTC) into an ETF.

Elliot Z. Stein, senior legal analyst at Bloomberg Intelligence, determined that the cryptocurrency company has a 70% chance of winning the legal case. #ArkInvest  #比特币ETF