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

• 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:

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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.

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