Delay predicted by Ark Invest CEO for ETF consent

As per her prediction shared with the media by the CEO of Ark Invest, Cathie Wood, regarding the consent for spot Ether exchange-traded funds (ETFs), it will be going beyond the deadline of May. The matter has been pending for a while now.

She emphasized that the Securities and Exchange Commission (SEC), the ultimate regulator considering the applications, will, in all probability, release a ruling on the 23rd of May. Still, Ark Invest’s application will not be included. According to her, This is what she strongly feels; some others will also fall under the adverse scenario.

Ark Invest had filed its application along with 21Shares regarding the Ark 21Shares Ethereum ETF. In the case of BlackRock, the most significant asset manager globally, it focuses on a spot Ether ETF. Related to this, the company’s CEO, Larry Fink, shared that the US Securities and Exchange Commission’s viewing of the second biggest crypto in the form of a security will not influence the applications for the fresh investment option. In his firm belief, there will not be any disastrous situation.

In the meantime, many in the crypto space strongly feel that the SEC is seemingly dragging its feet regarding granting its consent towards the spot Ether ETFs. Through continuous connection with the SEC, it became possible to know the status of Bitcoin and, subsequently, the spot Bitcoin ETF.

According to Cathie Wood, the SEC is mulling over the entire issue and, therefore, trying its best to bide time.

Towards the beginning of January, the country’s initial bitcoin ETF received consent from the SEC, opening the doors for unexpected inflows. As per the funds, they have raked in net inflows of $243.4 million.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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