Channels

Bitcoin

Read

Spot

<div class="coingape"> 
 <p>According to McClrug, he expected the ETFs to be approved, denied, or moved on this week. However, the Securities and Exchange Commission (SEC) quickly delayed the decision after losing the legal battle in the Grayscale <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> case last week to prevent further speculation. The SEC’s deliberation pushed back the approval of the <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s to October this year.</p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div>  
  <div id="my-banner-ad" class="d-inline-block"></div> 
 </div> 
 <p>He mentioned the Grayscale ETF case and discussed what the SEC would do in the future as they can’t move on a dime and must proceed cautiously regarding appeal. The CIO of Valkyrie, Steven McClurg gave some brilliant insights into the possible outcomes of the approval in the interview.</p> 
 <h2 id="will-bitcoin-etfs-be-approved-in-october">Will Bitcoin ETFs Be Approved In October?</h2> 
 <p>The interviewer asked the Chief Officer at Valkyrie, Steven if there would be a material movement for the ETFs to be approved in October this year and what that would mean for the market.</p> 
 <p>Steven answers, “I would actually give a greater than 50 % chance that we get an approval (for <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s) sometime in October. Now that’s probably closer to 50 %, but I do believe that at the end of the day after the approval happens you still have to wait for a 75 days statutory window for the S1 to get approved that still puts you 75 days out, but I believe the day is going to be sometime in Q1 next year.”</p>  
 <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="NewTrendin dsdsd m-on"> 
   <h5> 
    <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
    </svg>Recommended Articles </h5> 
   <div class="TrendSList owl-carousel owl-relatedpostar"> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/04/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/04/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/05/fa6133ad6e87ee1c4776d3849180d46b.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/05/fa6133ad6e87ee1c4776d3849180d46b.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Best Crypto Trading Bots List 2023</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/05/f88de9f91a8c6b7926f52e209e8f697e.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/05/f88de9f91a8c6b7926f52e209e8f697e.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/03/472515f3ab5ae759f4e49d6afa8bc33a.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/03/472515f3ab5ae759f4e49d6afa8bc33a.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/05/48cfebc8a0493db9937bed5dd005ee19.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/09/05/48cfebc8a0493db9937bed5dd005ee19.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
    </div> 
   </div> 
  </div> 
 </div> 
 <p>Also Read:&nbsp;Ethereum Soars In Unique Addresses After SEC Hints At Ether ETF Approval</p> 
 <h2 id="how-material-could-etf-be-industry-wise">How Material Could ETF Be Industry Wise?</h2>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p>McClurg answers that the prospect of ETF is very material. He said Bitcoin is held mainly by retail investors now. Financial Advisors represent a more significant section of cash for investments. But bigger than Advisors are Institutional investors, Pensions, Endowments, Sovereign Funds, and Insurances as they represent 80% of the market’s investment capital.</p> 
 <p>Investments involving institutional investors need a regulated vehicle to invest in rather than investing through crypto exchanges. The regulation aspect ensures that the investors will not be harmed. McClurg also mentions that institutional investors, pension, sovereign, and Endowment Funds.</p> 
 <p>The whole industry is eagerly awning the SEC’s next move. Will the ETFs be approved, or will the SEC find a sly way to delay the ETF approvals once again in October remains the big question in every investor’s mind.</p> 
 <p>Also Read:&nbsp;BTC Price Prediction If Spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> Is Approved</p> 
</div>  
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/valkyrie-cio-chances-of-bitcoin-etf-approval-more-than-50-tbt61662.html">https://thebittimes.com/valkyrie-cio-chances-of-bitcoin-etf-approval-more-than-50-tbt61662.html</a></p>

Valkyrie CIO, Chances Of Bitcoin ETF Approval More Than 50%

Table of Contents

TheBitTimes

Other articles published on Sep 5, 2023

EVGO Stock: Will EVGO Stock Able to Defend 52-Week Low?

Visa Expands Its Cross-border Payments to Solana

Bybit Leans on Innovative Tech by Launching AI-Powered Trading Assistant

300,000 ETH Moved to Coinbase, Here's What Happened Next

Breaking: Payments Firm VISA to Begin Using Solana Blockchain for Stablecoin Settlements

Binance Charity Unveils Survey Insights on International Day of Charity

Join our free newsletter for daily crypto updates!