Ark Investment CEO says “Cryptocurrency is now an election issue”
Cathie Wood indirectly claimed that approval of Ethereum spot ETF applications was possible because of the impact of US presidential election campaigns.
Cathie Wood is the CEO of Ark Investment, a popular fund manager that invests in stock assets related to Bitcoin and crypto. She is also a strong supporter of Bitcoin (BTC) & some other flagship cryptocurrencies.
On 29 May 2024, At the stage of Consensus 2024 in an interview with Peter McCormack, Cathie Wood said that the Cryptocurrency sector is now a very big agenda for the US election and this was a reason why the United States Securities and Exchange Commission (SEC) approved Ethereum spot ETF applications.
Furthermore, she explained that approval of these crypto ETF applications was not regular, as no question was raised by the SEC from the fund managers who proposed ETH spot ETF applications.
Wood also dragged attention toward the Financial Innovation and Technology for the 21st Century Act (FIT21) which secured full support on both sides of the aisle & passed.
The Ark Invest CEO also claimed that there are huge chances for the approval of Solana Spot ETF applications soon, as politicians are now focused fully on the crypto sector support to get vote support from crypto people.
When the interviewer asked whether Wood would go with Bitcoin or Ethereum investment, under a current scenario where Ethereum is under huge hype.
She answered with full clarity to go with Bitcoin. She said Bitcoin is unique because it combines three major things: a global money system, advanced technology, and a new type of investment. No other cryptocurrency matches Bitcoin in all these areas.
Ethereum price action
The current trade price of Ethereum (ETH) is $3,780 & this trade price is 2.36% down over the last 24 hours.
Read also: Current American president Joe Biden is now going to become a pro-Crypto politician
