PANews reported on July 6 that Ark Invest CEO Cathie Wood said in an interview with Fortune magazine that she did not think BlackRock had an advantage over ARK Invest in applying for a Bitcoin spot ETF. Cathie Wood said: "We don't think so. We know that there is a supervision sharing clause in their application materials, and ours does not, but as far as I know, it will not take us too much time to modify the application materials, and all the institutions' applications are moving in this direction. We have submitted the application, and the SEC will give a review around mid-January next year, and BlackRock will give a review before March next year. The SEC has approved some Bitcoin futures ETFs and recently approved a leveraged Bitcoin futures ETF. Futures involve swaps, while spot ETFs (at least the Grayscale version) are completely backed by Bitcoin stored in cold wallets as reserves, so we think spot trading is safer than futures. In our opinion, the SEC's approval (approval of futures ETFs and rejection of spot ETFs) is contradictory."
She also said that if the US SEC loses the case of "Grayscale v. SEC", the probability of the approval of the Bitcoin spot ETF will increase.
Related reading: Will the Bitcoin spot ETF jointly applied for by ARK and 21Shares be listed earlier than BlackRock?
