According to BlockBeats, on May 30, CoinDesk reported that ARK Invest CEO and Chief Investment Officer Cathie Wood said at the Consensus conference that the Ethereum spot ETF application was approved because cryptocurrency was an election issue. "The interpretation at the time was that it would not be approved, absolutely not approved. If it was approved in the usual way, we would be questioned by the U.S. Securities and Exchange Commission (SEC). But before that, no one had received any inquiries from the U.S. SEC." She said that the mood in the House of Representatives around the 21st Century Financial Innovation and Technology Act (FIT21) is constantly changing. The bill was passed last week with bipartisan support, indicating that this may be an election year issue. In addition, she said that ARK Invest will allocate a certain percentage of funds from private equity fund income to support Bitcoin developers to ensure that they can receive continued support regardless of whether the ETF is profitable or not.