Cathie Wood Suffers a Major Blow
Cathie Wood took a hit on Friday when the U.S. Securities and Exchange Commission (SEC) turned down an application for a spot bitcoin exchange-traded fund EFT from the star investor's Ark 21Shares. Basically, the firm wanted the market watchdog to approve spot exchange-traded funds, or ETFs, based on actual bitcoin holdings.
'Protect Investors and the Public Interest'
"any concerns related to preventing fraud and manipulation related to spot bitcoin ETPs would 'apply equally' to the spot markets underlying the futures contracts held by a Bitcoin Futures ETF."
ARK Invest and 21Shares U.S. LLC joined forces last year to launch Ark 21Shares. The application was delayed several times, most recently in January.
Wood has been a big bitcoin and cryptocurrency bull for a while.
$ARK Innovation ETF (ARKK.US)$ $Bitcoin (BTC.CC)$ $Ethereum (ETH.CC)$ $Tesla (TSLA.US)$ $NIO Inc (NIO.US)$ $AMC Entertainment (AMC.US)$
'Protect Investors and the Public Interest'
"any concerns related to preventing fraud and manipulation related to spot bitcoin ETPs would 'apply equally' to the spot markets underlying the futures contracts held by a Bitcoin Futures ETF."
ARK Invest and 21Shares U.S. LLC joined forces last year to launch Ark 21Shares. The application was delayed several times, most recently in January.
Wood has been a big bitcoin and cryptocurrency bull for a while.
$ARK Innovation ETF (ARKK.US)$ $Bitcoin (BTC.CC)$ $Ethereum (ETH.CC)$ $Tesla (TSLA.US)$ $NIO Inc (NIO.US)$ $AMC Entertainment (AMC.US)$
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ehttrader : SEC is Jaded and Sad![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Revelation 6 : The SEC has been promoted way beyond it’s usefulness. Everyone throws money at the SEC to keep them from doing anything. So they don’t.
mesapsa OP ehttrader :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
mesapsa OP Revelation 6 : well...
70734726 : sec is crooks they give who they want and the ones they don't want and they always know who is doing inside trading but they say nothing and when they do get caught give them slap on the risk sec criminals