Cathie Wood: There are signs that Bitcoin spot ETF will be approved in January 2024

Cathie Wood, CEO of Ark Invest, said in a recent CNBC interview that there are signs that a Bitcoin spot ETF will be approved in January 2024, which is "very encouraging" and the US Securities and Exchange Commission (SEC) will deepen its understanding of related issues.

Wood is working with 21Shares to develop Ethereum and Bitcoin futures ETF products, emphasizing the importance of BTC spot ETF in stimulating institutional interest in the cryptocurrency field. Once institutions and investors establish a foothold, they will seek ways to diversify their investment portfolios.