Cathie Wood suggests that the political ambitions of the SEC chair may be the reason for the delay in approving a Bitcoin spot ETF. Wood speculates that Gary Gensler's aspirations to become the Treasury Secretary could complicate the approval process. Despite Gensler's background in crypto, he has been reluctant to approve the ETF during his tenure. Wood argues that Bitcoin's decentralized and transparent nature makes market manipulation unlikely. Wood's firm, Ark Invest, has filed for a Bitcoin spot ETF with the SEC, and other major players in the industry are also seeking approval. Wood believes that the approval of a Bitcoin spot ETF could lead to a significant increase in Bitcoin's price and the overall crypto market. She projects that the crypto market could reach a valuation of $25 trillion by 2030.
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