Recently, Max Keiser, a well-known Bitcoin enthusiast, raised doubts to his 550,000 social media followers about Ark Invest CEO Cathie Wood’s statements regarding a Bitcoin exchange-traded fund (ETF). Keiser bluntly stated on a social media platform (previously known as Twitter), “This is misleading.”
Cathie Wood Advocates for Bitcoin ETF as a Fast Solution for Institutions
Cathie Wood has been vocal about how major financial players need a swift and efficient way to get into Bitcoin. In an interview, she argued that a Bitcoin ETF is the most straightforward path for these institutions to invest in the digital currency. “Institutions don’t want to hassle with custody, tax complexities, or other infrastructure issues. They’re looking for a quick entry point to Bitcoin and other digital assets,” she said. Wood is confident that a spot Bitcoin ETF would be the most liquid option if she’s correct. She also emphasized that institutions require the flexibility to quickly move in and out of Bitcoin.
Contrarily, Keiser contends that the new spot Bitcoin ETFs merely offer investors a way to invest in something that tracks Bitcoin’s price, rather than providing actual ownership of Bitcoin itself.
Recent Developments in the Bitcoin ETF Arena
With the January 10 deadline fast approaching for the U.S. Securities and Exchange Commission (SEC) to decide on the approval of a spot Bitcoin ETF, there’s a lot of speculation about how this might change the digital asset landscape.
It was observed on December 26 that several U.S. retirement providers have already started offering crypto options. Industry experts believe that the green light for a Bitcoin ETF could make it much easier for retirement savers to access cryptocurrency.