According to BlockBeats, on December 27th, Max Keiser, Senior Advisor to the President of El Salvador, challenged Cathie Wood's assertion that the approval of Bitcoin spot ETFs would entice more institutions into the market. Keiser emphasized that Bitcoin spot ETFs, if cash-created, are merely tools for investors to track BTC price and do not actually offer access to real Bitcoin.
In resonance with this view, Bloomberg ETF analysts noted that, in reality, if Bitcoin ETFs could only be created in cash--rather than in-kind with BTC--most non-crypto bodies, particularly those managing $33 trillion in assets, are unlikely to make substantial moves. They prefer to make dollars and primarily seek exposure, which does present an opportunity for Cathie Wood.
Recently, Ark Invest CEO Cathie Wood expressed her optimism in an interview with CNBC about the U.S. SEC greenlighting a spot Bitcoin ETF. She cited the signs of approval for the product in January 2024 as "very encouraging," given the SEC's increasing awareness and depth of understanding of related issues. She also underlined the role ETFs play in stimulating institutional interest in crypto. Once established, institutions and investors will explore opportunities to diversify their portfolios.
