Max Keiser, a Bitcoin maximalist, alleged to his 550,000 followers on X that he considered Ark Invest CEO Cathie Wood’s recent statements about a Bitcoin exchange-traded fund (ETF) to be false.

“This is misleading,” he declares in a post on X (formerly Twitter).

Cathie Wood Says Bitcoin ETF is Quick and Efficient for Institutions

Cathie Wood explains that major financial institutions ideally need access to Bitcoin in an efficient, quick manner. In a interview, she explains that a Bitcoin ETF is the quickest way for institutions to access the digital asset:

“Institutions don’t want to bother with custody and so forth, and tax issues, and other infrastructure, they just want to be able to access quickly Bitcoin and other digital assets.”

Wood further claims if she is “right, a spot Bitcoin ETF will be the most liquid way.”

Additionally, she argues that institutions need to be able to “move in and out quickly” of Bitcoin.

However, Keiser argues that all the new spot Bitcoin ETF’s give investors exposure to a proxy instrument that tracks the price of BTC, but no access to actual BTC.

Read more: How To Prepare for a Bitcoin ETF: A Step-by-Step Approach

Bitcoin ETF Developments in Recent Times

As the January 10 deadline looms for the United States Securities and Exchange Commission (SEC) to approve or deny a spot Bitcoin ETF, observers speculate on the potential impact on the approach to the digital asset.

BeInCrypto noted on December 26 that several US retirement providers are already offering crypto exposure.

The approval of a Bitcoin ETF, according to industry leaders, is expected to further streamline access to crypto for retirement savers.

The post Prominent Bitcoin Maxi Challenges Cathie Wood’s Bitcoin ETF Claim appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ December 28, 2023 4:42 am