Bitcoin ETF Approval Expected by November: Valkyrie CIO
Valkyrie Investments’ CIO, Steven McClurg, anticipates the US SEC's approval for a Bitcoin ETF by late November, marking a significant move for Bitcoin's market momentum.
McClurg expects the SEC to issue further comments in the next few weeks regarding Valkyrie’s ETF application, potentially finalizing rule changes by month-end or deferring until January for finishing touches on filings.
Valkyrie competes with major financial players for the Bitcoin ETF approval, managing significant Bitcoin and Ether ETFs valued at over $51 million and filing for a spot Bitcoin ETF.
Expert Nate Geraci outlines the potential process, suggesting SEC approval by November-end for rule changes, followed by filing approvals early next year for ETF trading to commence.
SEC concerns over market manipulation and custody are pivotal, but the expected approval could trigger significant investments post-launch, while the SEC had its first closed meeting since the Grayscale appeal deadline.