Bitcoin

<ul><li>Mike Novogratz, CEO of Galaxy Digital, expects U.S. approval of the first Bitcoin ETF within a six-month window.</li><li>Contacts at BlackRock and Invesco support the belief that the approval is a question of &#34;when, not if.&#34;</li><li>Some analysts believe ETF approval will come following the outcome of the SEC vs Grayscale lawsuit.</li></ul>Galaxy Digital&#39;s CEO, Mike Novogratz, has expressed optimism that the U.S. could soon approve its first Bitcoin exchange-traded fund (ETF). During the company&#39;s Q2 earnings call, where a $46 million loss was reported, Novogratz shared this belief, backed by insider information from BlackRock and Invesco, two major investment firms.Novogratz <a href="https://twitter.com/EricBalchunas/status/1688916620473946114?s&#61;20" rel="noopener noreferrer nofollow">portrayed</a> his excitement about the progress of the ETF, emphasizing the significance of the development, calling it a “big deal&#34;. He referred to conversations with contacts at both Invesco and BlackRock, suggesting that the approval of the ETF is a question of &#34;when, not if,&#34; rather than a matter of uncertainty. According to his insights, the general expectation is that the decision would likely come within a six-month window.Galaxy Digital, in partnership with Invesco, has <a href="https://cdn.cboe.com/resources/regulation/rule_filings/pending/2023/SR-CboeBZX-2023-038.pdf" rel="noopener noreferrer nofollow">reapplied</a> to launch a Bitcoin ETF, and they are among several contenders. The expectation is that the Securities and Exchange Commission (SEC) would approve the ETFs within the next four to six months.This potential approval has led to a shift in sentiment among big investment companies like BlackRock, which have <a href="https://cryptotale.org/blackrocks-bitcoin-etf-filing-boosts-crypto-industry-upcoming-bull/" rel="noopener noreferrer nofollow">begun</a> to view Bitcoin more positively. BlackRock&#39;s CEO, Larry Fink, has even advocated for Bitcoin as a global currency. The approval of a Bitcoin ETF would simplify large investments into Bitcoin, and Novogratz has emphasized Galaxy Digital&#39;s intention to be a significant player in this market.Read full article at <a href="https://cryptotale.org/u-s-bitcoin-etf-approval-expected-in-6-months-says-galaxy-digital-ceo/" rel="noopener noreferrer nofollow">CryptoTale.</a>

U.S. Bitcoin ETF Approval Expected in 6 Months, Says Galaxy Digital CEO

CryptoTale

Other articles published on Aug 9, 2023

Dogecoin Price Bullish Party Awaits Key Pattern Breakout

Irkutsk Grapples with Illegal Crypto Mining: 350 Million Rubles on the Line

Ripple CTO Breaks Silence on XRP’s Non-Inclusion in List of Alleged Security Tokens

Venom Foundation Partners with the UAE Government to Launch National Carbon Credit System

Curve Finance (CRV) Exploit Saga Takes New Turn

The Imminent Closure of SpiritSwap

Join our free newsletter for daily crypto updates!