The Securities and Exchange Commission (SEC) is engaging in more positive and productive conversations with investment managers regarding a spot Bitcoin ETF. Cathie Wood, CEO of Ark Invest, noted a positive “change in behavior” from the regulator. Other investment managers, including BlackRock and Fidelity, have also noticed this shift and have provided updated prospectuses to the SEC. Mike Novogratz, CEO of Galaxy Digital, predicts that ETF applications will be approved by the end of the year. The SEC’s recent court loss to Grayscale has further favored the applicants, as the court is expected to instruct the SEC on how to handle Grayscale’s application. Ark’s ETF application is the first to require a decision by January 10, and Wood believes that several Bitcoin ETFs could potentially be approved simultaneously.
AI Sentiment: Positive
