ARK Invest CEO Cathie Wood expects some investors to “sell on the news” of spot Bitcoin ETF approval in the short term, but the long-term perspective is promising.
Growing anticipation around the potential approval of spot Bitcoin (BTC) 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.
Wood expects that some investors will not want to miss the opportunity of taking some profits as there has been a “big anticipatory move” based on the expectation of potential approval of a spot Bitcoin ETF, she said in an interview with Yahoo Finance on Dec. 26. The ARK CEO stated:
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Source: https://cointelegraph.com/news/short-term-spot-btc-etf-sell-ark-ceo