Everscale Partner
Ark Investment Management CEO Katy Wood doubts that the US regulators will approve a Bitcoin exchange-traded fund (ETF) before the market cap of the largest cryptocurrency reaches $2 trillion.
“The demand must be satisfied, therefore, it must exceed a trillion dollars. I believe it needs $2 trillion before the US Securities and Exchange Commission (SEC) has confidence in the Bitcoin ETF, ” Wood said on Tuesday, January 26, at an online conference.
Wood was quite optimistic about the prospects for bitcoin with Gary Gensler, the former chairman of the CFTC, as well as a professor at the Massachusetts Institute of Technology (MIT), whom the US President Joe Biden had appointed as the head of the US Securities and Exchange Commission.
Gensler has become the SEC’s most knowledgeable chairman on the subject of digital assets and blockchain, as he served as an advisor to the cryptocurrency initiative at MIT and conducted research on blockchain as well as financial technology.
