© Reuters. Valkyrie: The SEC is likely to approve the Spot BTC ETF this month
believes Stephen McClurg, chief investment officer at Valkyrie Investments. The US Securities and Exchange Commission (SEC) will approve the spot Bitcoin ETF by the end of November.
Approval of the spot ETF is critical to rising prices and bullish momentum of the .
Spot BTC ETF Could Come in November Stephen McClurg is confident the SEC will approve the Spot BTC ETF this year, chief investment officer says. He joins Galaxy Digital CEO Mike Novogratz.
Citing recent modifications to Valkyrie’s instant Bitcoin ETF app. McClurg said the SEC is likely to issue another series of comments over the coming weeks. Changes to Rule 19b-4 will likely be approved by the end of the month. He also argues that the SEC could wait until January to ask applicants to finalize their S-1 filings.
“Before anything else happens, we get a second round of feedback. And I think we’ll probably get that feedback over the next three or three weeks. Approval in late November likely means a February launch.
Financial giants include BlackRock, Fidelity Investments, VanEck, and Invesco (NYSE:). Valkyrie is also one of the companies racing to gain approval for a Bitcoin exchange-traded fund. The company manages the Valkyrie Bitcoin and Ether Strategy ETF and the Valkyrie Bitcoin Miners ETF. They have a combined asset value of over $51 million and have an active deposit for the Spot Bitcoin ETF.
ETF Expert Explains Spot Bitcoin ETF Requirements Nate Geraci, host of ETF Prime, said: “Valkyrie CIO suggests the SEC may approve 19b-4s (exchange rule changes) for spot bitcoin ETFs by the end of November. And then S-1s (registration data) early next year. They do not need to be approved at the same time (although they do need both for the ETFs to start trading).”
The SEC’s consideration of market manipulation and custody issues remains a key question. But this is fair. The approval will bring huge retail and institutional investments within a few weeks of launch.
Meanwhile, the SEC held its first closed commissioners meeting on November 2 . Since the deadline to appeal Grayscale’s case has expired.
2023-11-04 13:51:00
#Good #news #awaits #cryptocurrency #market #Crypto #Horizon