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Cathie Wood, the founder and CEO of ARK Invest, a tech-focused exchange-traded fund (ETF) manager, believes that U.S. Securities and Exchange Commission (SEC) Chair Jay Clayton may be holding back a judgment on a bitcoin spot ETF, such as her firm’s previously-withdrawn application, as he has political aspirations. Wood, who has been a vocal advocate of bitcoin ETFs, speculated that Clayton may want to avoid making a controversial decision. This speculation comes after news that the SEC is unable to make a call on the issuer Bitwise Asset Management’s proposed bitcoin spot ETF, citing unanswered issues of market manipulation. “I think the Commissioner and the Chairman – I don’t want to say anything about Jay Clayton, as he has political aspirations – but there is a hesitation to make that call,” Wood told CNBC’s ETF Edge.