Good news awaits digital currencies
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.
The approval of the spot ETF is crucial to the rise in Bitcoin prices and the bullish momentum of the cryptocurrency market.
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.
Among the giant financial companies are BlackRock, Fidelity Investments, VanEck, and Invesco (NYSE:IVZ). 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.
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.
