{"id":457380,"date":"2023-11-15T14:13:06","date_gmt":"2023-11-15T14:13:06","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=457380"},"modified":"2023-11-15T14:13:06","modified_gmt":"2023-11-15T14:13:06","slug":"cathie-wood-says-gary-genslers-political-ambitions-may-explain-his-reluctance-to-approve-spot-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/cathie-wood-says-gary-genslers-political-ambitions-may-explain-his-reluctance-to-approve-spot-bitcoin-etfs","title":{"rendered":"Cathie Wood Says Gary Gensler\u2019s Political Ambitions May Explain His Reluctance To Approve Spot Bitcoin ETFs"},"content":{"rendered":"
Ark Invest founder Cathie Wood suggested that Securities and Exchange Commission (SEC) chair Gary Gensler may be hesitating to approve a spot Bitcoin ETF (exchange-traded fund) because of his political ambitions.<\/p>\n
“There’s speculation that he is interested in the Treasury Secretary position at some point,” Wood said in an interview with CNBC. “What does the Treasury Secretary do? Very focused on the dollar.”<\/p>\n
Bitcoin<\/a> is often touted as an alternative to the dollar and so approving a spot Bitcoin ETF would help add legitimacy to the king of crypto, and give it a tad more heft to challenge the mighty dollar at some point.<\/p>\n CATHIE WOOD: Gensler's reluctance toward a spot #Bitcoin<\/a> ETF stems from his fear of manipulation, despite teaching about #Bitcoin<\/a> at MIT 🤔<\/p>\n Speculation suggests his aspirations to be Secretary of the Treasury might be the actual reason for the approval delay 😮 pic.twitter.com\/tSSDIz4Ku0<\/a><\/p>\n — Bitcoin News (@BitcoinNewsCom) November 14, 2023<\/a><\/p><\/blockquote>\n\n