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Home CRYPTO

Cathie Wood: Crypto Now a Major U.S. Election Issue

Michael Juanico by Michael Juanico
May 29, 2024
in CRYPTO, POLITICS
Reading Time: 3 mins read
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• Cathie Wood said the proposed ether ETFs were not approved through the regular process
• Wood suggested the ether ETF filings were approved because crypto is an election issue
• The statements were made by Wood at the Consensus 2024 event hosted by CoinDesk

At Consensus 2024, ARK Invest CEO Cathie Wood claimed the recent approval of ether ETF filings was politically motivated rather than following the normal process.

JUST IN: ARK Invest CEO Cathie Wood states Ethereum's ETF was passed because crypto is now a U.S. election issue

— BlockNews.com (@blocknewsdotcom) May 29, 2024

Cathie Wood’s Comments at Consensus 2024

Speaking on stage at CoinDesk‘s Consensus 2024 conference, Cathie Wood stated the proposed ether ETFs were approved outside of regular procedures. She believes crypto became an election issue, leading regulators to rush through the ETF approvals.

Wood’s statements suggest the SEC deviated from standard operating procedures and expedited the ETF filings due to political pressure around cryptocurrencies. The SEC has faced criticism for delaying decisions on crypto ETFs for years.

CoinDesk Conference Background

Wood made her remarks during Consensus 2024, CoinDesk’s largest annual event covering cryptocurrencies and blockchain technology. The conference brings together leaders in the crypto and Web3 spaces.

Consensus 2024 took place May 29-31 in Austin, Texas. The event’s 10th anniversary edition hosted over 7,500 attendees from major companies and projects across crypto, traditional finance, technology, and policymaking.

Disclosures from CoinDesk

CoinDesk provided the following disclosures regarding its business model and ownership:

  • CoinDesk recently updated its privacy policy, terms of use, cookies policy, and do not sell my personal information practices.
  • The site is an award-winning cryptocurrency news outlet with strict editorial policies.
  • In November 2023, CoinDesk was acquired by the Bullish group, owner of the Bullish digital assets exchange.
  • Bullish is majority-owned by Block.one and has interests in various crypto businesses.
  • CoinDesk operates independently with an editorial committee. Employees may receive Bullish options.

Conclusion

Cathie Wood’s view that ether ETF approvals were rushed for political reasons counters the SEC’s typical measured approach to crypto investment products. However, it reflects ongoing debates regarding cryptocurrencies in the current election cycle. The remarks occurred during Consensus 2024, CoinDesk’s major annual crypto conference.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Ark InvestCathie WoodCoinDeskether etfsec
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Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

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