Ark Invest founder and CEO Cathie Wood expressed her views on the lawsuit between Ripple (XRP) and the SEC at a Twitter Spaces event she attended.
Cathie Wood Talks About Bitcoin and Ripple
Wood, who first criticized the SEC’s failure to approve the Bitcoin Spot ETF yet, accused the institution of inconsistency. Wood stated that the SEC has approved the risk-free Bitcoin Futures ETF, but not the risk-free spot ETF.
Saying that he thinks the SEC will lose the Grayscale case, Wood reminded that the institution lost the attempt to block the sale of Binance’s Voyager.
Talking about the Ripple case, Cathie Wood argued that the SEC may be in the process of losing this case as well.
In addition, Wood said that the SEC will have to make a decision in June, either to close the Bitcoin futures ETF or to approve the Bitcoin Spot ETF.
Cathie Wood has been frequently buying and selling shares of cryptocurrency exchange Coinbase since her debut in April 2022. His firm, ARK Invest, purchased approximately 1.6 million shares of Coinbase in 2023, worth more than $132 million at current price.
Cathie Wood is known as the founder and CEO of ARK Investment Management, a firm specializing in game-changing innovation and technology. Wood is also one of the biggest crypto bulls on Wall Street.
In a recent ARK report, of bitcoin projected that the price will reach $1.5 million by 2030. He also claims that Wood BTC could become a $10 trillion asset class within the next ten years.
*Not investment advice.
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