Ark’s Cathie Wood denounces SEC chair, says Gensler is ‘denigrating’ cryptocurrencies
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Cathie Wood, CEO of Ark Investment Management, said Gary Gensler’s latest statement “discredits the entire cryptocurrency space.”
in speech interview On January 11, Cathie Wood, founder and CEO of Ark Investment Management, criticized the chairman of the U.S. Securities and Exchange Commission (SEC) in an interview with Bloomberg, saying that the latest statements about cryptocurrencies “denigrated” the entire industry.
“He just denigrated the entire cryptocurrency space. I couldn’t believe it. This is normal for disruptive innovation.”
Kathy Wood
Wood’s comments come as Gensler remains skeptical of cryptocurrencies even after approving a spot Bitcoin exchange-traded fund (ETF). Gensler has been critical of cryptocurrencies since taking the helm of U.S. financial regulators, a point he reiterated in his latest report. statement The U.S. Securities and Exchange Commission “has not approved or endorsed Bitcoin.”
“While we have today approved the listing and trading of certain spot Bitcoin ETP shares, we have not approved or endorsed Bitcoin. Investors should remain cautious about the numerous risks associated with Bitcoin and products whose value is tied to cryptocurrencies .”
Gary Gensler
Despite Gensler’s negative stance, Cathie Wood believes the approval of a spot Bitcoin ETF marks a significant development for the largest cryptocurrency by market capitalization. She stressed that institutions now need to work harder to navigate and adapt to the new regulatory framework.
As crypto.news previously reported, the U.S. Securities and Exchange Commission (SEC) approved multiple spot Bitcoin ETFs on January 10, including one jointly filed by Ark and 21Shares. The approval paves the way for the ETF to begin trading on the CBOE starting at 9 a.m. on January 11, when U.S. markets open.
