Ark CEO: Why Only Bitcoin and Ethereum May Secure ETF Approval
Summary
Cathie Wood of Ark Invest predicts that only Bitcoin and Ethereum spot ETFs are likely to be approved by the SEC. Experts and industry insiders share this view, with some suggesting that approval of these ETFs could pave the way for filings related to other tokens. The SEC's reluctance to approve other crypto ETFs, such as an XRP ETF, is attributed to concerns about market manipulation and the absence of regulated trading of XRP futures. This aligns with the SEC's previous rejection of Spot Bitcoin ETF applications. Despite optimism for the approval of Spot Ethereum ETFs, the SEC's focus on market regulation and manipulation remains a key factor in considering other crypto ETFs.
