Cathie Wood: Bitcoin ETF Approval Unlikely Until Market Cap Hits $2 Trillion

[hugeblack]

The CEO of Ark Investment Management Cathie Wood (@CathieDWood) has said that

financial regulators in the United States will not assent to a Bitcoin exchange-traded fund unless the overall market capitalization of the crypto industry hits $2 trillion. This was made known in an ETF Trends Big Ideas event.

And unless the "demand flow" for Bitcoin is met, she says, there will be no positive adoption by the US Securities and Exchange Commission (SEC).
It is also optimistic about the leadership of Gary Gensler, who has been nominated to lead the Securities and Exchange Commission by President Joe Biden.

It seems that we need to double the price and keep the demand flowing, which may be the beginning of the flow of large corporate asset investments.


Source --> https://focusinvesting.biz/cathie-wood-bitcoin-etf-approval-unlikely-until-market-cap-hits-2-trillion/

[aoluain]

Yea so Bitcoins Market cap is shy of $600 Billion, it would need to X3 to exceed $2 trillion,
according to the likes of Michael Saylor this shouldnt be a problem even if some of the Gold
investors migrate even partially to Bitcoin, not even considering other FIAT based assets
which he predicts should move to Bitcoin also.

Regulation will play a role in this. For traditional investors moving into what many of their
counterparts consider a risky asset, they will want some sort of guideline from governments
that they are playing by the rules.

Regulatory clarity will accelerate the adoption of Bitcoin by corporations and institutional investors.

[Hydrogen]

America became great by being the 1st nation to embrace emerging trends of innovation and invention.

In 2021 america is taking deliberate steps to ensure it is always the last country to support new inventions or innovative trends like crypto. Or to greenlight crypto ETFs.

Articles written about engineering or architecture from 50 years ago, are more inventive and progressive than the majority of content published today. It is interesting how 2021 has come to be more regressive, backwards and anti intellectual in contrast to standards set in the 1960s or 1980s.

The natural move for the SEC would be to approve crypto ETFs as soon as possible, to ensure the USA doesn't fall behind europe and asia. We live in unnatural times.

[Lucius]

I don't know if it makes sense to link possible approval with something like a market cap that is just the result of all mined BTC multiplied by the current price, because we all know the final number is incorrect - a certain percentage of BTC has certainly been lost over the years. The SEC has never targeted the market cap as the reason for rejecting the ETF, the reasons have always been volatility, market unregulation and various manipulations that take place outside the jurisdiction of the US (SEC).

For now, there are two ETF application submitted to the SEC - but such a process can take up to 240 days - everyone who has something to say about the ETF generally agrees that 2021 will not be the year when the SEC makes a positive decision.

Here is what Jan Van Eck has to say on the subject -> https://youtu.be/t6NJnfu_68I

[Tstar]

That's not bad news at all. At the current rates, we will have to wait for x3 until the "demand flow" is met, which makes $100k a Bitcoin. We will reach it in a year or two anyway.
And then, with the EFT, things could go to the moon fast!