Here's When You Can Expect The Greenlight For Spot Bitcoin ETF, According To Valkyrie
Portfolio Pulse from Murtuza Merchant
Steven McClurg, CIO at Valkyrie, is optimistic that the U.S. Securities and Exchange Commission (SEC) might approve a spot Bitcoin (BTC) ETF soon. Valkyrie oversees two ETFs with assets totaling $51.1 million. Investment giants such as BlackRock Inc. (BLK), Fidelity Investments, and Grayscale Investments are among those awaiting the SEC's approval to transition from Bitcoin futures to holding actual Bitcoin in their ETFs. McClurg estimates around $10 billion in demand shortly after the launch of such an ETF.
November 03, 2023 | 4:50 pm
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BlackRock Inc. is among the investment giants awaiting the SEC's approval to transition from Bitcoin futures to holding actual Bitcoin in their ETFs. This could potentially increase the value of their ETFs.
The approval of a spot Bitcoin ETF by the SEC would allow BlackRock to hold actual Bitcoin in their ETFs, which could attract more investors and potentially increase the value of their ETFs.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The potential approval of a spot Bitcoin ETF by the SEC could lead to a significant influx of investment dollars into Bitcoin, potentially driving up its price.
The approval of a spot Bitcoin ETF by the SEC would likely lead to a significant influx of investment dollars into Bitcoin. This increased demand could potentially drive up the price of Bitcoin.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100