BlackRock's Edge in SEC Approval for Bitcoin ETF Questioned by Cathie Wood

Cathie Wood, CEO and founder of ARK Invest, believes that her firm's amended Bitcoin ETF application, filed after previous rejections by the SEC, could position them to launch the first spot Bitcoin ETF in the U.S. Wood dismisses the notion that BlackRock has an edge in SEC approval and highlights the potential for a positive outcome in the Grayscale trial. She also expresses concern about the SEC potentially stifling innovation in the U.S. and emphasizes the global nature of the crypto movement. Wood does not believe that the SEC would favor BlackRock over ARK Invest in approving a spot Bitcoin ETF. Additionally, she discusses the growing institutional interest in crypto and the need for institutions to become more sophisticated in this new asset class.