The approval of spot Bitcoin ETFs by the Securities and Exchange Commission could serve as “the final seal of approval” for institutions considering involvement in the crypto space, according to Ark Invest CEO Cathie Wood.

Ark Invest, in partnership with 21Shares, has a live filing in front of the agency for such a product. The deadline for the SEC to rule on the proposed Ark 21Shares Bitcoin ETF (ARKB) is Jan. 10.

The SEC allowed bitcoin futures ETFs to start trading in October 2021. Wood said during a Wednesday webinar those approvals were “interesting” given the counterparty risk for those funds — compared to a spot product backed by bitcoin held in cold storage. Most…

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