Cathie Wood: Gary Gensler's political ambitions are the reason behind the stalled approval of a Bitcoin ETF.

BlockBeats reported on November 15th that Cathie Wood, CEO of ARK Invest, said in an interview with CNBC that it's hard to come up with a reasonable explanation for SEC Chairman Gary Gensler's opposition to spot Bitcoin ETF, given his deep understanding of Bitcoin. Before serving as SEC Chairman, Gensler taught cryptocurrency and blockchain courses at MIT. Wood also mentioned speculation about Gensler's ambition to become the US Treasury Secretary, and suggested that the Treasury Secretary is "very concerned about the US dollar", implying that Gensler's ambition may be the real reason why spot Bitcoin ETF is being blocked. Wood also predicted that spot ETF will eventually be approved and that the market capitalization of cryptocurrencies will increase from the current $1 trillion to $25 trillion by 2030. Currently, the SEC is reviewing 12 Bitcoin spot ETF applications, including ARK Invest's. (CoinDesk)