Bitcoin ETF Could be Approved by November's End : Valkyrie CIO Predicts

Bitcoin ETF Could be Approved by November's End : Valkyrie CIO Predicts

SECBitcoin ETF

By Miles

04 Nov 2023 (7 months ago)

1 min read

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The U.S. may get its first Bitcoin ETF soon, with Valkyrie and Bitwise leading the race and expecting billions in investments.

Valkyrie's CIO expects U.S. Bitcoin ETF approval soon, possibly by the end of November, hinting at a 2024 launch.

The SEC's upcoming comment requests may lead to final rule changes for listing Bitcoin ETFs, says Valkyrie's update.

Bitwise is also hopeful despite concerns over market manipulation and custody challenges.

Both firms foresee significant demand, with Valkyrie predicting $10 billion soon after launch and Bitwise $50 billion over five years.

Currently, about ten firms, inspired by BlackRock's move, are vying to launch the first U.S. spot Bitcoin ETFs.

Grayscale's recent legal win also pressures the SEC, but it seeks to convert an existing fund to a Bitcoin Fund rather than start a new one.

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