Valkyrie founder confident of Spot Bitcoin ETF approval on Wednesday

Valkyrie founder confident of Spot Bitcoin ETF approval on Wednesday
фото показано с : invezz.com

2024-1-10 18:28

In a significant development in the crypto world, Valkyrie co-founder Steven McClurg expressed confidence in an interview with Fortune, predicting the SEC’s approval of their Spot Bitcoin ETF on Wednesday.

With anticipation reaching new heights, McClurg also hinted at the possibility of trading commencing as early as Thursday. This news comes amidst widespread industry expectations for the approval of multiple Spot Bitcoin ETFs this week including the prediction of Bloomberg’s Eric Balchunas who anticipates the first spot Bitcoin ETFs to launch on January 11 or 12 after a Wednesday or Thursday approval.

Valkyrie spot Bitcoin ETF approval prediction

The Valkyrie co-founder’s prediction has stirred the cryptocurrency community with his bold prediction of a Wednesday BTC ETF approval. Speaking to Fortune, McClurg revealed the firm’s meticulous process leading up to this point, emphasizing the potential for the ETF to broaden market participation through its unique structure.

McClurg, who oversees Valkyrie Funds as the chief investment officer, provided insights into the approval process, noting the absence of information regarding a commission vote. This revelation underscores the complexity of bringing innovative investment products to market, with Valkyrie positioning itself at the forefront of this transformative development.

McClurg’s assessment of SEC’s chairman

One striking aspect of McClurg’s interview is his positive assessment of SEC Chairman Gary Gensler, often a controversial figure in the digital asset sector. Contrary to popular sentiment, McClurg deemed Gensler “good for Bitcoin” throughout his tenure. This unexpected perspective adds a layer of intrigue to the unfolding narrative, as the SEC chairman, known for his enforcement-first approach, is expected to play a crucial role in approving a dozen Spot Bitcoin ETF applications.

Even if influenced by court requirements, Gensler’s potential approval holds significant implications for the cryptocurrency industry. The anticipated launch of the United States’ first Spot Bitcoin ETFs would represent a landmark development, potentially paving the way for increased institutional participation and mainstream adoption of cryptocurrencies.

As Wednesday approaches, the crypto community remains on the edge, eagerly awaiting the SEC’s decision on Valkyrie’s Spot Bitcoin ETF. The outcome will undoubtedly have a profound impact on the trajectory of Bitcoin and the broader cryptocurrency market, marking a potential turning point in the evolution of digital assets in traditional financial markets.

Stay tuned for updates as this story continues to unfold.

The post Valkyrie founder confident of Spot Bitcoin ETF approval on Wednesday appeared first on Invezz

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