The SEC is Finally Engaging With Bitcoin ETF Applicants: Cathie Wood

After years of delaying and stonewalling a highly anticipated spot Bitcoin ETF, the Securities and Exchange Commission is starting to have more productive conversations about the product with hopeful applicants.

“The fact that the SEC chose to ask questions is a change in behavior,” said Wood. “Therefore, I do think hopes are rising that a – or a number of – Bitcoin ETFs will be approved. “When you go to the comment period and what they’re asking about, all seems much more specific than general,” NovogratzWorking in the applicants’ favor is the SEC’s recent court loss to Grayscale – the world’s largest Bitcoin fund. In August, judges unanimously ruled that the agency’s denial of Grayscale’s conversion into a spot ETF was “arbitrary and capricious” given that it had already approved similar, cash-based futures products.

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