Bitcoin ETF Could Start Trading on Thursday: Valkyrie Predicts
Valkyrie Investments Awaits SEC Decision on Bitcoin ETF, Anticipates Big Investor Interest and Early Retail Involvement.
Crypto traders are eagerly waiting for the U.S. SEC to decide on a bitcoin spot ETF, with Valkyrie Investments expecting a decision soon. They have predicted that approval can come on Wednesday and trading could start on Thursday.
Valkyrie’s co-founder, Steven McClurg, anticipates significant investor interest in their ETF, with expectations of $200 million to $400 million initially, and overall $4-5 billion inflows in the first few weeks.
Not every applicant may launch their ETF immediately, but McClurg sees about 10 ETFs starting together. He acknowledges the hard work and challenges in setting up these ETFs, especially coordinating crypto and cash custodians.
McClurg believes retail investors will be the first to invest in the new ETFs, with financial advisors taking time to recommend them to clients. He expects a shift of funds from Grayscale’s fund to these new ETFs.
