Ark Investment's Cathie Wood: SEC Expected to Approve Multiple Bitcoin Spot ETFs Simultaneously

Although Ark Invest analyst from ARK Invest, previously emphasized that the application for Ark 21Shares Bitcoin ETF is ahead of others, founder Cathie Wood stated in an interview today that she expects the SEC to delay Ark's application during the hearing on August 13. Subsequently, various Bitcoin spot ETFs will be approved simultaneously.

Cathie Wood: SEC to Approve Multiple Bitcoin Spot ETFs Simultaneously

Back in June, Ark's analysts highlighted Ark's lead over all applicants:

Ark and 21Shares submitted documents to the SEC as early as April this year, making it the only application currently ahead of the BlackRock Bitcoin spot ETF.

However, Cathie Wood seems to have changed her stance, as she told Bloomberg:

I believe that if the SEC were to approve one Bitcoin ETF, it would approve multiple Bitcoin ETFs simultaneously.

Cathie Wood Expects August 13th to be Delayed

Previously, a schedule of various spot Bitcoin ETF approvals was compiled, with the Ark 21Shares Bitcoin ETF being the first and only ETF that the SEC must review on August 13th.

However, Cathie Wood now anticipates this timeline to be delayed and synchronized with other ETFs.

Recap: Review of Various Bitcoin Spot ETFs: Early September Might Be Crucial for Approval

Bloomberg ETF analyst James Seyffart also agrees with Cathie Wood's view, stating:

I think Cathie is seeing and hearing the same things we are. The "path of least resistance for regulators" would be to have them simultaneously face multiple Bitcoin spot funds, especially if Grayscale wins the lawsuit against the SEC.