SEC Won’t Approve Spot ETFs Tied to Tokens Other than BTC, ETH: Cathie Wood

• Cathie Wood said that it would be surprising for the SEC to approve spot ETFs other than BTC and ETH.
• Wood’s ARK Invest is one of at least seven firms that seek to offer spot Ethereum ETF.
• The SEC recently postponed its decision on BlackRock and Fidelity’s spot ETH applications.

Founder and CEO of the asset management firm Ark Invest, Cathie Wood, stated that she doesn’t see the Securities and Exchange Commission (SEC) approving spot exchange-traded funds (ETFs) tied to cryptocurrencies other than Bitcoin and Ethereum. 

In a statement given during her interview with WSJ’s Take On the Week podcast, Wood talked about the probability of a spot ETF backed by a coin other than Bitcoin and Ether being listed in the U.S. 

“We’d be surprised to see anything but bitcoin and ether being approved by the SEC,” Wood stated. ARK Invest is one of the asset management firms that seeks to offer a spot Ethereum ETF. 

Additionally, Franklin Templeton, a firm reportedly with $1.5 trillion in assets under management (AUM), applied for a spot Ethereum application with the SEC on February 12. 

Not…

The post SEC Won’t Approve Spot ETFs Tied to Tokens Other than BTC, ETH: Cathie Wood appeared first on Coin Edition.