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Ark Investment CEO and CIO Cathie Wood He confirmed on May 29 that the SEC green light spot Ethereum ETFs for political reasons.
In CoinDesk Consensus 2024, Wood identified two developments that arguably influenced the changing SEC sentiment. First, she said house Recent passage FIT21 defined cryptocurrencies as an election issue.
Secondly, this was said by the former US President Donald Trump I became “more comfortable with Bitcoin and cryptocurrencies” around the time of deciding on spot ETH ETFs.
Trump started it Accepting campaign donations in cryptocurrencies during approvals week, which Wood believes caught his attention Joe Biden administration.
The SEC suddenly changed its position
Wood said the SEC “would never approve” many ETH ETFs before its sudden shift in stance.
Had the SEC approved the funds in the usual way, Ark and other issuers would have received questions from the agency, but that was not the case. Wood said:
“No one was taking questions from the SEC beforehand.”
However, on May 23The Securities and Exchange Commission (SEC) has approved rule changes to allow the listing and trading of eight spot ETH ETFs, including Ark, 21 shares Joint supply.
Wood expressed conflicting opinions on whether other crypto ETFs could receive approval after the ETFs were approved. She said wire companies can accept ETFs involving major cryptocurrencies, including… Solanawhile memecoin funds are unlikely.
Bukele’s policies in El Salvador
The CEO of Ark Invest also recently commented on El Salvador, praising it Bitcoin Policies after meeting the president Nayeb Bukele.
Wood said Bukele’s treatment of bitcoin, artificial intelligence and other areas could increase El Salvador’s gross domestic product tenfold during his next five-year term. She described Bitcoin and artificial intelligence as “two of the biggest economic and technological revolutions in history.”
She added:
“The President also floated the idea of introducing the ARK Educate curriculum on technological innovation…to schools in El Salvador.”
The curriculum includes blockchain, artificial intelligence, robotics, energy storage, and multi-economy.
President Bukele is known for it Different encryption policies. The government of El Salvador owns at least 5,700 bitcoins, has implemented plans to generate income from bitcoin mining and local businesses, and has expanded… Citizenship offer For Bitcoin investors.
