Cathie Wood: The approval of the Ethereum ETF may be related to cryptocurrency becoming a key issue in the U.S. elections

PANews reported on May 30th, according to CoinDesk, ARK Invest founder Cathie Wood stated that the recent approval of Ethereum ETF applications may be related to cryptocurrency becoming a key issue in the upcoming U.S. elections. Wood pointed out that regulators might want to cater to voters' growing interest and demand for cryptocurrencies by approving these ETFs. She said that the proposed Ether ETF was not approved in the usual way.

Cathie Wood also stated that ARK's position is that Bitcoin (BTC) is a public product, and the Ark 21Shares Bitcoin ETF approved in January with a fee of 0.21% will not make money.