spot_imgspot_imgspot_img

Cathie Wood Dismisses BlackRock’s Bitcoin ETF Advantage: An Insight

  • BlackRock and ARK Invest are in a race to launch the first spot Bitcoin ETF in the US.
  • ARK Invest’s CEO, Cathie Wood, believes her company has the upper hand in getting approval from the SEC.
  • Wood also suggests that BlackRock does not have any insider advantage with the SEC.

Spot Bitcoin ETF: A Race Between BlackRock and ARK Invest

There’s a palpable sense of excitement in the cryptocurrency market as BlackRock, the world’s largest asset management company, and investment firm ARK Invest vie for the approval of the first spot Bitcoin ETF in the US. While BlackRock’s application has stirred up enthusiasm and boosted prices, ARK Invest seems to be in a more advantageous position.

ARK Invest’s Early Bird Advantage

BlackRock submitted its application just last month, whereas ARK Invest made its move as early as April. ARK Invest’s CEO, Cathie Wood, has expressed confidence that her company will be the first to launch a spot Bitcoin ETF in the US, even suggesting that BlackRock will not receive approval before ARK Invest.

Does BlackRock Have an Inside Track with the SEC?

When asked about BlackRock’s Bitcoin ETF application and its chances of success, Wood pointed out that ARK Invest also has an application under review. The SEC has until mid-January to approve ARK Invest’s application, while the deadline for BlackRock’s application is in March. Wood dismissed the notion that BlackRock has any insider advantage with the SEC, stating that it’s an ongoing process. She also mentioned the upcoming conclusion of the Grayscale case, which could potentially increase the chances for a Bitcoin ETF if the SEC loses.

Wood’s Take on a Possible SEC Scenario

Wood also shared her thoughts on a scenario where the SEC approves BlackRock’s spot Bitcoin ETF and rejects ARK Invest’s. The successful CEO does not believe that BlackRock will receive approval before ARK Invest. She noted that while BlackRock’s prospectus contains a surveillance clause that ARK Invest’s does not, she has been informed that amending their prospectus would not take much time and that all exchanges are moving in this direction. Shortly after this interview, ARK Invest revised its application by adding a surveillance clause and resubmitted it to the SEC.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Faces Potential Downturn Amid Economic Challenges, Warns Analyst

This article delves into the potential economic headwinds for Bitcoin in 2024, as analysts express concerns over inflation and growth slowdowns impacting the cryptocurrency market.

Bitcoin Set for Major Correction Post-Halving, Eyes $58,000 Peak: Analyst Michael van de Poppe Predicts

With the halving event on the horizon, Bitcoin's journey to a new peak is marked by bullish predictions and anticipated corrections, painting a volatile yet promising future for the flagship cryptocurrency.

Can Dogecoin Price Exceed $1? Massive DOGE Forecast from Renowned Analyst!

Dogecoin price experienced approximately a 2% decline in the last 24 hours: Will there be a rise by April? Analyst Martinez revealed!

Fed Agenda in the Bitcoin Market: According to Bianco, Interest Rates Won’t Be Lowered Before This Date!

What will the Federal Reserve do in its next move? According to Bianco's research, there may not be an interest rate cut before September!

Bitcoin and Altcoin Investment Products Witness $5.7 Billion Inflow!

Bitcoin and cryptocurrency investment products recorded a massive influx of funds, with increasing demand for Spot Bitcoin ETFs leading the way!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Marisol Navaro
Marisol Navarohttps://en.coinotag.com/
Marisol Navaro is a young 21-year-old writer who is passionate about following in Satoshi's footsteps in the cryptocurrency industry. With a drive to learn and understand the latest trends and developments, Marisol provides fresh insights and perspectives on the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

Bitcoin Faces Potential Downturn Amid Economic Challenges, Warns Analyst

This article delves into the potential economic headwinds for Bitcoin in 2024, as analysts express concerns over inflation and growth slowdowns impacting the cryptocurrency market.

Bitcoin Set for Major Correction Post-Halving, Eyes $58,000 Peak: Analyst Michael van de Poppe Predicts

With the halving event on the horizon, Bitcoin's journey to a new peak is marked by bullish predictions and anticipated corrections, painting a volatile yet promising future for the flagship cryptocurrency.

Can Dogecoin Price Exceed $1? Massive DOGE Forecast from Renowned Analyst!

Dogecoin price experienced approximately a 2% decline in the last 24 hours: Will there be a rise by April? Analyst Martinez revealed!