- Cathie Wood says that the industry needs Bitcoin ETFs in play.
- She says this in an interview with Yahoo Finance.
- She also insists that the industry needs clear rather than new regulations.
Catherine Wood of Ark Investment Management is the most recent Yahoo Finance power player pushing for a spot to participate in an exchange-traded fund (ETF). The tracking of Bitcoin futures, an investment product that U.S. regulators may soon allow, would purportedly be made easier by this.
Read CRYPTONEWSLAND on
google news
Her interview with Yahoo Finance claims that the Bitcoin ETFs would have prevented many individuals from losing their funds due to the FTX catastrophe. She thinks that the present centralized finances would be replaced by ETFs since they are sufficiently decentralized.
Particularly, a bitcoin exchange-traded fund (ETF) monitors the value of the digital currency. Instead of using cryptocurrency trading platforms, ETFs may be purchased, sold, and exchanged on conventional stock market exchanges.
It is a reliable method for exposing mainstream investors and speculators to the bitcoin price. This would be accomplished with a dependable vehicle that they probably are already accustomed to.
Although investors can participate in Bitcoin futures ETFs, the United States has not yet approved a spot Bitcoin ETF. A spot Bitcoin ETF is different from the Bitcoin futures ETFs in that it is backed by real Bitcoin (BTC). On the other hand, Bitcoin derivatives are used to support Bitcoin futures ETFs.
In light of this, Cathie Wood has attributed her concerns to Sam Bankman-Fried’s disregard for Bitcoin. She thinks that the decentralization and transparency of Bitcoin are the reasons SBF despised it. She says:
“He couldn`t control it.”
She also maintains that the cryptocurrency industry needs clear laws rather than additional ones. She nevertheless addresses this to Gary Gensler, the Securities and Exchange Commission head.
Recommended News :
disclaimer read moreCrypto News Land (cryptonewsland.com)
