Cathie Wood’s Ark Invest Sees IPO Window For Circle, Kraken Under Trump Administration

BE[IN]CRYPTO11-13

Ark Invest sees a Trump administration as favorable for crypto, potentially opening IPO opportunities for firms like Circle and Kraken. The asset manager anticipates pro-crypto policies and SEC ...

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In June, Bloomberg reported that the company raised $100 million in a pre-IPO funding round. This demonstrated strong investor interest and confidence in its future. Kraken’s public listing, however, would also depend heavily on regulatory support and le","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"USDC":"USDATA Corp.","ARKB":"ARK 21Shares Bitcoin ETF","BK4544":"ARK ETF合集","ARKK":"ARK Innovation ETF","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","BK4588":"碎股","IPO":"Renaissance IPO ETF"},"translate_title":"Cathie Wood的Ark Invest看到了特朗普政府领导下Circle和Kraken的IPO窗口","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ARKB":1,"ARKK":1,"IPO":1,"USDC":1},"content_text":"Ark Invest sees a Trump administration as favorable for crypto, potentially opening IPO opportunities for firms like Circle and Kraken.\nThe asset manager anticipates pro-crypto policies and SEC reforms, which could ease current regulatory constraints on digital assets.\nArk’s vision aligns with potential legislation, like the FIT21 Act, which would enhance clarity and support for stablecoins and other digital assets.\n\nCathie Wood’s Ark Invest is optimistic about a more favorable environment for cryptocurrency in the US, tied to new policies under President-elect Donald Trump.\nThe asset manager is popular for operating the ARK 21Shares Bitcoin ETF (ARKB), which currently has $4.44 billion in net assets.\nIPO Windows For Circle and Kraken, Ark Invest Says\nIn its latest newsletter, the asset management firm expressed optimism that Trump’s return to the White House could allow digital asset firms like Circle and Kraken to go public and achieve regulatory clarity.\n\n“Among the possibilities are…the re-opening of the initial public offering (IPO) window for late-stage digital asset companies like Circle and Kraken…,” a paragraph in the newsletter read.\n\nCircle, the issuer of USD Coin (USDC) stablecoin, confidentially filed for an IPO in January. However, in June, Barron’s reported that the US SEC had reservations about Circle’s core product, which could delay or impact the company’s listing. \nThe stablecoin issuer also moved its headquarters to the US in May. This was regarded as an effort to bolster market confidence.\nAccording to Barron’s, however, the SEC raised concerns about stablecoin risks. The regulator continues to hold a cautious stance on these assets, especially as the market continues to grow.\nKraken, another major cryptocurrency exchange, has also been preparing for an IPO. In June, Bloomberg reported that the company raised $100 million in a pre-IPO funding round. This demonstrated strong investor interest and confidence in its future. Kraken’s public listing, however, would also depend heavily on regulatory support and legislative progress.\nIn the United States, multiple crypto mining firms and a prominent crypto exchange, Coinbase, are already listed on stock exchanges. Consequently, this establishes a precedent demonstrating that crypto firms can transition to becoming publicly traded companies in the country.\nFavorable Crypto Policies Under Trump\nFurthermore, Ark Invest joins the list of those who believe a Trump administration would favor pro-crypto policies. The asset manager believes that Trump’s crypto blueprint may provide significant tailwinds for the digital asset industry. Specifically, it would give it the support it has been waiting for amid ongoing regulatory challenges.\nFor Ark Invest, this optimistic outlook includes the possibility of long-awaited legislative reforms. Among them are the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Clarity for Payment Stablecoins Act of 2023. Approving these legislations would set clearer guidelines and protections for digital assets and stablecoins in the US.\nArk’s positive outlook is influenced by its hope for a potential shift within the SEC under Trump. The firm noted that the end of current SEC Chair Gary Gensler’s “regulation by enforcement” approach could ease some of the pressures that crypto companies currently face. \nArk’s stance aligns with prominent industry voices who advocate clearer regulations rather than punitive measures. The general sentiment is that this would foster a more novel and competitive environment for US-based crypto firms.\nCathie Wood, a noted Bitcoin advocate, has consistently backed high expectations for cryptocurrency growth. Recently, she voiced her support for Wyoming Senator Cynthia Lummis’s proposal to establish a US strategic Bitcoin reserve. This followed an idea President-elect Trump also endorsed during his campaign.\nWood has also made ambitious projections in the past, including a forecast that Bitcoin could reach a valuation of $3.8 million by 2030. In her opinion, all it would take is for institutions to allocate “5% of their portfolios to Bitcoin.” \nMany see this price target as aspirational. Nevertheless, Wood’s support reflects her long-term confidence in Bitcoin and the broader cryptocurrency ecosystem.\nArk Invest’s vision of a more crypto-friendly US regulatory environment highlights its belief in the economic and technological potential of digital assets. If Trump’s administration delivers on these expectations, it could indeed mark a turning point for major players like Circle and Kraken. This would enable them to take charge of bringing digital assets into the mainstream American financial system.\n\n\n\n\nTop crypto projects in the US | November 2024\n\n\n\nCoinbase\nExplore\n                      \n\n\n\n\n\nCoinrule\nExplore\n                      \n\n\n\n\n\nUphold\nExplore\n                      \n\n\n\n\n\n3Commas\nExplore\n                      \n\n\n\n\n\nChain GPT\nExplore\n                      \n\n\n\n\n\n\n\n\nTop crypto projects in the US | November 2024\n\n\nCoinbase\n\n\n\n\n\n\n\n\nCoinrule\n\n\n\n\n\n\n\n\nUphold\n\n\n\n\n\n\n\n\n3Commas\n\n\n\n\n\n\n\n\nChain GPT","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483042100"}