The launch of bitcoin ETF crypto funds may be approved by a new team that came to the Securities and Exchange Commission (SEC). This point of view is shared by the CEO of Ark Invest Katie Wood.
In an interview with CNBC, she noted that Joe Biden’s administration may be more liberal in relation to the blockchain industry. If the previous team in every possible way obstructed the legalization of bitcoin ETFs, now we have a chance of progress in this matter.
A significant event was the appointment of Gary Gensler as head of the SEC, who is positioned as a person familiar with the cryptosphere and digital currencies.
Ark Invest CEO said:
I think the ETF is more likely. [Генслер] understands the technology, and I believe he understands the cryptocurrency itself, and we have people who really understand this space.
According to Katie Wood, institutional interest in bitcoin has grown significantly lately. However, in the short term, BTC is unlikely to replace fiat money.
Large investors will enter the crypto space, but this process will be slow. It will begin to accelerate as the market matures and is legalized by the authorities.
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