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- Max Keiser states that Bitcoin ETFs do not provide investors with the opportunity to take possession of actual Bitcoin.
- Keiser criticizes Wood’s remarks, labeling them as inaccurate and “misleading.”
- Cathie Wood described Bitcoin ETF as “the most liquid method to gain exposure to Bitcoin.”
In a recent interview, Ark Invest CEO Cathie Wood recognized Bitcoin ETF as “the most liquid method to gain exposure to Bitcoin.”
American financial broadcaster Max Keiser condemned the statement made by Ark Invest’s CEO as “false” and “misleading.”
FALSE:
THIS IS MISLEADING: All the new spot #Bitcoin ETFs provide investors with exposure to a proxy instrument that tracks BTC’s price, but do not grant access to actual BTC. https://t.co/Mj5LD1Z3D5
— Max Keiser (@maxkeiser) December 27, 2023
Cathie Wood Recognized Bitcoin ETF
During an interview with CNBC, Wood spoke about the forthcoming launch of Spot Bitcoin ETF, claiming that the recent signals from the Securities and Exchange Commission (SEC) are “very encouraging.”
See Also: ARK Invest Liquidates $33M in Coinbase Shares, $5.9M in Grayscale Bitcoin Trust
Reinforcing expectations for the Bitcoin ETF debut in 2024, Wood elaborated on the possible advantages of the exchange-traded funds. She stated,
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“If we’re correct, a spot Bitcoin ETF will be the most liquid method to gain exposure to Bitcoin. I believe that liquidity, along with the ability to move in and out swiftly, will be crucial for institutions.”
Wood based her comments on the potential applications and demand for Bitcoin ETFs. She opined that some institutions may view the Bitcoin ETF as a “new asset class.”
In such scenarios, they seek exposure as diversification enhances “return per unit of risk” and “they cannot overlook it.”
In reaction to these remarks, Max Keiser emerged with severe criticism. He maintained that the spot BTC ETFs do not allow investors the right to receive actual BTC.
Instead, the “CBDC-promoting” government provides USD or a CBDC equivalent for redemption. The critic’s tweet stated,
“THIS IS MISLEADING: All the new spot Bitcoin ETFs provide investors with exposure to a proxy instrument that tracks BTC’s price, but do not grant access to actual BTC.”
Moreover, Keiser reiterated that the Bitcoin ETFs are not possessions of the investors, emphasizing, “Not your keys, not your coins.”
Highlighting the “unprecedented collaboration” between Wall Street and the Federal Reserve regarding Bitcoin ETFs, Keiser remarked, “The BTC ETFs are fiat roach motels.”
The post Bitcoin ETF Does Not Give Access to Actual Bitcoin – Keiser appeared first on BitcoinWorld.
