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ARK Invest CEO Cathie Wood expects some investors to “sell on the news” of spot Bitcoin ETF approval in the short term, but sees the long-term perspective as promising. Meanwhile, Grayscale Investments has announced a shake-up in its board of directors, with the firm's CEO and president stepping down — this happened the same day Grayscale refiled its spot Bitcoin ETF application with some notable changes.
Growing anticipation around the potential approval of spot Bitcoin exchange-traded funds (ETFs) could negatively impact the BTC price in the short term, according to ARK Invest CEO.
Cathie Wood, founder, CEO and chief investment officer of ARK, believes that some investors are likely to “sell on the news” once a spot Bitcoin ETF is approved by securities regulators in the United States.
