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Prominent Bitcoin Maxi Challenges Cathie Wood’s Bitcoin ETF Claim

1 min
Updated by Ciaran Lyons
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In Brief

  • Bitcoin maximalist Max Keiser disputes Cathie Wood's ETF claims, deeming them false to his 550,000 followers on X.
  • Cathie Wood touts Bitcoin ETFs as quick access for institutions, minimizing custody and tax concerns.
  • Max Keiser counters, stating new spot Bitcoin ETFs offer exposure to a price-tracking proxy, not actual Bitcoin.
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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.

Read more: Top 7 Platforms To Earn Bitcoin Sign-Up Bonuses in 2024

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Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios. He has also appeared across major television networks in Australia including Channel Ten, Channel Nine and SBS TV. Prior to his foray into cryptocurrency, Ciaran worked as a presenter on national radio station Triple J.