U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has said within the previous that he’s hesitant to approve location bitcoin exchange-traded funds (ETFs) thanks to attainable market manipulation.

Renowned investor Cathie Wood immediate the correct reason may perchance perchance perchance be that Gensler has his witness on heading the U.S. Treasury.

During an look on the CNBC present Hiss Field on Tuesday, Wood disputed Gensler’s argument, noting that Bitcoin is a “decentralized, clear community” where that it’s seemingly you’ll perchance perchance presumably additionally apply all of the exclaim on-line, making it highly no longer going there may perchance perchance perchance be manipulation. And Gensler, a frail international economics professor at the Massachusetts Institute of Know-how (MIT), has the recordsdata to place that reality, Wood said.

“There’s hypothesis that he’s attracted to the Treasury Secretary situation at some level. What does the Treasury Secretary invent? Very interested on the buck,” said Wood.

Wood’s asset administration agency ARK Make investments is among various companies who win filed location bitcoin ETF applications and are waiting for attainable SEC approval. The SEC has at the second finest authorised the bitcoin and Ethereum futures ETFs, which embody pools of bitcoin-linked resources.

Bitcoin location ETFs, on the assorted hand, discover the payment of bitcoin by conserving BTC of their portfolios.

Unhurried final month, a video of Gensler speaking at a panel in 2019 resurfaced where the then-professor criticized the SEC for an “inconsistent” skill to location bitcoin ETFs.

“Bitcoin futures, and I’ve Ethereum futures and so on, will exist, and Bitcoin ETFs win no longer, and that feels a little inconsistent to me,” said Gensler at the 2019 MIT Bitcoin Expo. He then illustrious that “despite the truth that the laws aren’t exactly the the same, they’re reasonably the same.”