According to ChainCatcher, CoinDesk reported that ARK Invest CEO and Chief Investment Officer Cathie Wood said at the Consensus conference that the Ethereum spot ETF application was approved because cryptocurrency was an election issue. "The interpretation at the time was that it would not be approved, absolutely not approved. If it was approved in the usual way, we would be questioned by the U.S. Securities and Exchange Commission (SEC). But before that, no one received any inquiries from the SEC."
She said the evolving mood in the House around the Financial Innovation and Technology for the 21st Century Act (FIT21), which passed last week with bipartisan support, suggests it could be an election-year issue.
In addition, she said ARK Invest will allocate a certain percentage of private equity fund income to support Bitcoin developers to ensure that they receive continued support regardless of whether the ETF is profitable or not.
