Bitcoin ETF

Bitcoin

Terra

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Valkyrie Investments’ chief investment officer (CIO) Steven McClurg believes the US Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF by November end. 
The approval of a spot ETF is crucial for the Bitcoin price rally and the crypto market’s bullish momentum. 
<h2 id="valkyrie-cio-says-spot-bitcoin-etf-may-come-in-november">Valkyrie CIO Says Spot Bitcoin ETF May Come In November</h2> 
Steven McClurg is confident about a spot Bitcoin ETF approval by the U.S. SEC this year, joining Galaxy Digital CEO <a href="https://coingape.com/mike-novogratz-sees-spot-bitcoin-etf-approval-by-sec-this-year/" target="_blank" rel="noopener">Mike Novogratz</a>. 
Citing the latest amendments to <a href="https://coingape.com/valkyrie-updates-spot-bitcoin-etf-prospectus-with-us-sec/" target="_blank" rel="noopener">Valkyrie’s spot Bitcoin ETF application</a>, McClurg said the SEC is likely to issue another series of comments within the next weeks, potentially the approval of 19b-4 rule changes by the end of the month. He also argues that the SEC could wait until January to ask the applicants to put the final touches on their S-1 filings. 
<blockquote>
 “Before anything else happens, we get a second round of comments, and I believe we’ll probably get those comments in the next one to three weeks. A late November approval likely means a February launch.”
</blockquote> 
Among financial giants <a href="https://coingape.com/tag/blackrock" target="_blank" rel="noopener">BlackRock</a>, Fidelity Investments, VanEck, and Invesco, Valkyrie is also one of the firms in the race to get approval on a spot Bitcoin ETF. The firm manages Valkyrie Bitcoin and Ether Strategy ETF and the Valkyrie Bitcoin Miners ETF, which with a combined asset value of more than $51 million and has an active filing for a spot Bitcoin ETF. 
Also Read: <a title="Just-In: US SEC Requests Summary Judgment Against Terra And Do Kwon" href="https://coingape.com/sec-files-motion-for-summary-judgment-against-terra-and-do-kwon/" target="_blank" rel="bookmark noopener">US SEC Requests Summary Judgment Against Terra And Do Kwon</a> 
<h2 id="etf-expert-explains-spot-bitcoin-etf-requirements">ETF Expert Explains Spot Bitcoin ETF Requirements</h2> 
Nate Geraci, host of ETF Prime <a rel="nofollow" href="https://twitter.com/NateGeraci/status/1720183718495601126" target="_blank">said</a>: 
<blockquote>
 ” Valkyrie CIO suggests SEC could approve 19b-4s (exchange rule changes) for spot bitcoin ETFs by end of November. And then S-1s (registration statements) early next year. These don’t have to be approved at same time (though need both for ETFs to begin trading).”
</blockquote> 
The SEC considering issues of market manipulation and custody remains a major question. But that’s fair, as approval will bring massive retail and institutional investments in just a few weeks of the launch. 
Meanwhile, the SEC had its first closed meeting of the commissioners on November 2, since the Grayscale appeal deadline expired. 
Also Read: <a title="Here’s Why Crypto Market And Bitcoin Price Are Falling Today" href="https://coingape.com/heres-why-crypto-market-and-bitcoin-price-are-falling-today/" target="_blank" rel="bookmark noopener">Here’s Why Crypto Market And Bitcoin Price Are Falling Today</a> 
The post <a rel="nofollow" href="https://coingape.com/us-sec-likely-to-approve-spot-bitcoin-etf-in-november-says-valkyrie-cio-steven-mcclurg/">US SEC Likely To Approve Spot Bitcoin ETF In November, Says Valkyrie CIO Steven McClurg</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

US SEC Likely To Approve Spot Bitcoin ETF In November, Says Valkyrie CIO Steven McClurg

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