According to “CoinDesk”, Cathie Wood, founder of the asset management company ARK Invest, said that cryptocurrency has now become an issue in the US election, which is also the key document for the Ethereum Spot ETF application to be suddenly and unexpectedly approved. reason.
Wood said in an interview at the "Consensus 2024" event:
"The original interpretation was that it would not be approved. It would definitely not be approved. If it were approved in the regular way, we would get questions from the SEC (U.S. Securities and Exchange Commission). Before this, no one had received questions from the SEC. .
Wood said the changing mood in the House around the Financial Innovation and Technology for the 21st Century (FIT21) Act, which passed with bipartisan support last week, is a sign it could become an election-year issue. Wood also pointed out that former U.S. President Donald Trump has become closer to Bitcoin and cryptocurrencies, and his recent statement that he would accept cryptocurrency campaign donations has attracted the attention of the government.
Wood also said that although a Solana ETF may be approved in the future, funds focusing on memecoins are unlikely to be approved because wirehouses (large brokerage companies and investment advisory companies) will not accept other than mainstream currencies. Cryptocurrencies other than .
Bitcoin VS Ethereum
Ethereum (ETH) has been in the spotlight recently thanks to progress in the approval of an Ethereum spot ETF, but when Wood was asked whether she would rather hold Bitcoin or Ethereum, her stance on Bitcoin remained firm .
Wood said:
“Without a doubt, it’s Bitcoin. It’s a global currency system, it’s a technology, it’s a new asset class, it’s three big ideas rolled into one, and there’s nothing else in the crypto world that can compete with it.”
This article Ark Investment Founder Cathie Wood Says Cryptocurrency Has Become an Election Issue, Leading to Unexpected Approval of Key Ethereum ETF Documents appeared first on Zombit.
