ARK Invest’s Cathie Wood believes that the new Donald Trump administration could facilitate the public listing of crypto companies like Circle and Kraken. In a recent newsletter, ARK Invest noted that the change in leadership, especially with the possibility of a new chairman of the Securities and Exchange Commission (SEC), could spur a wave of IPOs in the crypto industry.
Frank Downing, director of research at ARK Invest, pointed out that with Bitcoin prices hitting record highs, the new administration will bring much-needed clarity to digital asset regulation in the U.S. ARK also highlighted the potential for bills such as the Financial Innovation and Technology for the 21st Century (FIT21) Act and the Payment Stablecoin Clarity Act of 2023, which aim to establish more transparent regulation for digital assets and stablecoins.
The progress of these bills, combined with the Trump administration’s commitment to promoting crypto-friendly regulation, could help companies like Circle and Kraken push ahead with their IPO plans, overcoming current regulatory hurdles from the SEC that have plagued other IPOs in the crypto industry, such as Coinbase’s.
Cathie Wood also expressed the view that “reducing the power of the SEC” under the Trump administration could boost the US economy and reduce obstacles to the digital asset movement.
