According to Foresight News, ARK Invest CEO and Chief Investment Officer Cathie Wood said at the Consensus conference that the Ethereum spot ETF application was approved because cryptocurrency became an election issue. She pointed out that if they were approved in the usual way, they would be asked by the U.S. Securities and Exchange Commission (SEC), but no one had received an inquiry from the SEC before. She also mentioned that the House of Representatives' attitude towards the 21st Century Financial Innovation and Technology Act (FIT21), which was passed with bipartisan support, is changing, which may be an issue in the election year.
Cathie Wood also said that ARK Invest will allocate a certain percentage of private equity fund income to support Bitcoin developers to ensure that they receive continued support regardless of whether the ETF is profitable or not.
