Cathie Wood: The approval of the spot Bitcoin ETF means that the trend of "BTC replacing gold" continues

Cathie Wood, CEO of asset investment management company ARK Invest, stated that Bitcoin is replacing gold, and the emergence of spot Bitcoin exchange-traded funds (ETFs) proves that this trend is continuing.

The potential impact of the first spot Bitcoin ETF is similar to that of the first gold ETF. Data shows that since the first gold ETF was launched in November 2004, the price of spot gold has soared by more than 250% in seven years.