ARK's Tom Staudt believes Bitcoin has become a "public good" and should be available to all investors.
The approval of Bitcoin exchange-traded funds (ETFs) in the United States establishes the cryptocurrency as a “public good,” said ARK Invest president Tom Staudt.
According to him, the Bitcoin investment vehicle is not about “maximizing profit” but rather a way to introduce new audiences to cryptocurrencies. “I think that that’s ultimately the most important thing [...] This [Bitcoin] has become a public good that we want to make sure all investors have access to,” noted Staudt.
ARK Invest is among the asset managers approved by the U.S. Securities and Exchange Commission to launch Bitcoin ETFs, allowing investors to buy and hold BTC in portfolios just like stocks and shares of mutual funds.
