Cathie Wood, CEO and CIO of Ark Invest, feels confident that the U.S. Securities and Exchange Commission will green light the world's first Spot Bitcoin (BTC-USD) exchange traded fund later this week.

“We do think the probability is very high that Bitcoin ETFs will be approved this week,” Wood said in an interview with CNBC.

Furthermore, Wood indicated that she believes Bitcoin will see even further investor flows particularly from the institutional side as she referred to the cryptocurrency as “digital gold.”

“We think the flows into this new asset class, especially institutional flows, but also retail flows, retail has led the charge of course, they're going to be quite substantial,” Wood stated, adding that “it won't take much of an allocation by institutions into Bitcoin to drive what is becoming a scarce asset much higher.”

With a potential approval of a Spot Bitcoin ETF looming, the innovation-focused investor elaborated that this should provide institutional money with the green light as the SEC would be paving the way for future investment.

Moreover, see how Cathie Wood’s six actively managed exchange traded funds have traded in the early part of 2024.

• ARK Innovation ETF (NYSEARCA:ARKK) -4.7% YTD.
• ARK Next Generation Internet ETF (NYSEARCA:ARKW) -3.7% YTD.
• ARK Autonomous Technology & Robotics ETF (ARKQ) -4.3% YTD.
• ARK Genomic Revolution ETF (BATS:ARKG) -2.9% YTD.
• ARK Fintech Innovation ETF (ARKF) -4.7% YTD.
• ARK Space Exploration & Innovation ETF (ARKX) -4.5% YTD.