Spot Bitcoin ETF Imminent

Wall Street is lining up. PLUS Cathie Wood is confident.

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Cathie Wood: Spot Bitcoin ETF Imminent

Cathie Wood says the SEC has changed its behaviour and is actively engaging with Spot Bitcoin ETF applicants. We’ve already seen ARK, BlackRock, Fidelity, Franklin Templeton and others submit updates to their ETF applications after feedback from the SEC.Cathie Wood says this is very behaviour, while Bloomberg’s ETF analysts Eric Balchunaus and James Seyfartt say this has never happened before. Perhaps reason to be optimistic.Also note, BlackRock has previously applied to launch 576 ETFs and 575 were approved. They do not do these things unless they are very “confident”.

Institutions Line Up

In addition to seeing institutions like BlackRock, Fidelity, Franklin Templeton et al leading the way in pushing for a Bitcoin ETF, Top 4 global consulting firm Ernst & Young came out today highlighting the finite and predictable nature of Bitcoin’s issuance. It also said: There’s so much pent up demand for Bitcoin: $200 Trillion of institutional assets that can’t touch it until an ETF is approved. Bitcoin has a market cap of $600 billion. Barely 0.5% of $200 Trillion.