DailyBubble News
DailyBubble News

Ark Invest CEO Cathie Wood addresses bitcoin ETF approval ‘hoax’

Ark Invest CEO Cathie Wood reacted to a false post on X from SEC Chairman Gary Gensler regarding Spot Bitcoin ETF approval, causing confusion for investors. Wood noted the strange Bitcoin logo in the SEC tweet and Gensler’s smiling photo, realizing it was a hoax. The unauthorized post claimed approval of Bitcoin ETFs on all U.S. securities exchanges, but the SEC clarified it was compromised. Wood’s firm, Ark Investment Management, is awaiting SEC approval for a spot Bitcoin ETF, with as many as 10 applications pending. Senators criticized the SEC for the fake news, which initially boosted Bitcoin prices before crashing when retracted. Wood reaffirmed cryptocurrency as a public good and new asset class, advocating for democratized access to innovation.

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