Cathie Wood Says 'Hopes Are Rising' For Bitcoin ETF Approval By SEC

Ark Invest is one of several companies that have filed for Bitcoin ETFs with the SEC, an item that many believe could increase demand for the leading cryptocurrency.

The investment manager's CEO Cathie Wood shared an update Monday on where Bitcoin ETFs stand.

What Happened: Known best for its investment in technology stocks, Ark Invest is a believer in the future valuation of Bitcoin BTC/USD.

Ark Invest has a pending spot Bitcoin ETF the company believes will be improved in the future.

“It was publicized and disclosed that we had responded to the SEC’s request for information around our Bitcoin filing,” Wood said during an appearance on CNBC Monday.

Wood said that was all that she could say about the specific filing.

The Ark Invest founder and CEO said the fact the SEC chose to ask questions this time around instead of rejecting the filing “shows willingness” to move forward.

“I think hopes are rising.”

Topics like Bitcoin investing will be front and center at Benzinga's Future of Digital Assets event Nov. 14 in New York City. 

Related Link: Exclusive: Cathie Wood Breaks Down $2,000 Tesla Price Target With Benzinga

What’s Next: Wood said that multiple Bitcoin ETFs could be approved by the end of 2023 or in early 2024, adding that Ark’s filing has a final deadline of Jan. 10.

Ark Invest is first in line for approval, she said. 

“A number of Bitcoin ETFs could be approved at the same time,” Wood added.

The appearance by Wood on CNBC comes hours after Bitcoin spiked above $30,000 after incorrect reports stated a Bitcoin ETF from iShares had been approved.

BTC Price Action: Bitcoin is trading 3.36% higher at $28,100 midday Monday. 

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