When the Sec will Approve a Spot Bitcoin ETF: Opinion

An ETF is an exchange-traded fund that uses the spot price of bitcoin. The head of Galaxy Digital, said that a positive decision will be made before the end of winter next year. At the same time, he refers to his informants in BlackRock and Invesco.

What else does Novogratz say

Recently, a teleconference was held regarding the financial results of the past quarter. The head of the company informed the shareholders that an important moment is coming now, as their connections with the financial companies BlackRock and Invesco allow us to determine specific deadlines. Most likely, he added that the approval will be within the next six months.

The specialist believes that the SEC office will give approval for a spot bitcoin ETF no earlier than 4 months, but no later than six months.

Recall that at the beginning of the summer, BlackRock decided to send an application to launch its own exchange-traded fund that will work with bitcoin. Galaxy Digital performed similar actions with Invesco and other financial organizations. Note that ARK Invest and 21Shares are the first in the queue. However, approval has not yet been given to anyone except two companies — Valkyrie and ProShares.

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