Cathie Wood-Led Ark Sees Boost For Bitcoin, Crypto Under Trump Administration, Says IPO Window For Circle, Kraken Could Reopen
Asset management giant Ark Invest was optimistic about the positive impact of the incoming Donald Trump administration on the cryptocurrency industry in the U.S.
What Happened: In the weekly newsletter shared Monday, the Cathie Wood-led firm Ark Invest stated that Trump’s policies could provide “significant tailwinds” for the digital asset industry and bring about “much needed” clarity around regulations.
The firm saw the possibility of a more cryptocurrency-friendly SEC and the end of current Chair Gary Gensler’s “regulation by enforcement” policy.
Ark Invest also highlighted the potential for the reopening of the initial public offering (IPO) window for late-stage digital asset companies like Circle and Kraken, and the passage of long-awaited digital assets legislations like the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Clarity for Payment Stablecoins Act of 2023