10 months ago
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ARK 21Shares Bitcoin ETF Approval
Ark Invest CEO Cathie Wood expressed dissatisfaction with U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler’s critical statement on the crypto asset (virtual currency) Bitcoin on the 11th. Ta.
“Given the SEC’s hesitation, financial institutions will need to approach the new regulatory framework carefully,” Wood said in an interview on Bloomberg Radio.
On the 11th, the SEC approved the application for 11 Bitcoin spot ETFs (exchange traded funds), and trading is expected to begin the next day. ARK 21Shares Bitcoin ETF (ARKB), jointly filed by ARK and 21Shares, is one of the 11 stocks. Individuals and institutional investors will be able to access these ETFs through brokerage accounts such as Morgan Stanley’s E-Trade and Fidelity Investments.
Wood said that interest in cryptocurrencies is growing among many retail investors, and said, “This is the start of a new chapter for Bitcoin, and through this ETF we aim to become a top-tier provider.” That’s what I’m aiming for,” he emphasized.
connection:SEC approves listing of Bitcoin spot ETF by 5-3 vote, committee chair reveals background and views
Gensler’s warning about Bitcoin
Approval of the Bitcoin ETF was determined by a 3-2 vote by five SEC commissioners, including Gensler. Gensler voted yes, but in a statement after his confirmation was announced, he suggested that the Grayscale decision had forced him to change course.
Furthermore, while we have authorized the listing and trading of certain Bitcoin spot ETP shares, we do not endorse or endorse Bitcoin, and that Bitcoin is a primarily speculative and volatile asset; It also warned that it could be used for illegal activities.
While we remain neutral, we believe that while the underlying assets of metal ETPs (Exchange Traded Products) have consumer and industrial uses, Bitcoin is primarily a speculative and volatile asset. It is also used for ransomware, money laundering, sanctions evasion, terrorist financing, and other fraudulent activities.
“Chairman Gensler’s comments are unbelievable because they deny crypto assets as a whole,” Wood said, noting that they are “a classic example of resistance to disruptive innovation.” He also criticized Gensler’s stance as “an old way of thinking bashing new DNA.”
connection:SEC approves listing of Bitcoin spot ETF by 5-3 vote, committee chair reveals background and views
The post CEO Cathie Wood responds to SEC Chairman Gensler’s warning about Bitcoin appeared first on Our Bitcoin News.
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