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 <p class="is-style-lead">Steven McClurg, co-founder of Valkyrie Investments,&nbsp;believes the U.S. Securities and Exchange Commission (SEC) will approve multiple spot Bitcoin exchange-traded fund (ETF) applications in November 2023.&nbsp;</p>
 <p>In his assessment, firms have addressed all the issues of market manipulation raised by the regulator.&nbsp;</p>
 <p>By McClurg’s estimation, the regulator may send another round of comments to those who submitted for the ETFs in the next one to three weeks, followed by <a rel="noopener noreferrer nofollow" title="approval" href="https://thebittimes.com/tag/approval.html">approval</a> of 19b-4 rule changes in November 2023.&nbsp;</p>
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 <p>However, the market will likely see spot Bitcoin ETFs in February 2024. This comes after McClurg expressed belief in a Bitcoin spot ETF <a rel="noopener noreferrer nofollow" title="approval" href="https://thebittimes.com/tag/approval.html">approval</a> by at least Q2 of next year in a recent&nbsp;interview&nbsp;with Forkast.</p>
 <blockquote class="wp-block-quote">
  <p>“A late November <a rel="noopener noreferrer nofollow" title="approval" href="https://thebittimes.com/tag/approval.html">approval</a> likely means a February launch. Before anything else happens, we get a second round of comments. We’ll probably get those comments in the next one to three weeks.”</p>
  <p>Valkyrie Investments co-founder Steven McClurg</p>
 </blockquote>
 <p>Valkyrie Investments recently&nbsp;filed&nbsp;an updated application for its Valkyrie Bitcoin Fund with the SEC, indicating that investors could purchase common shares backed by Bitcoin under the ticker BRRR on Nasdaq.&nbsp;</p>
 <p>However, other players in the race for spot Bitcoin ETF <a rel="noopener noreferrer nofollow" title="approval" href="https://thebittimes.com/tag/approval.html">approval</a> in the U.S.&nbsp;include&nbsp;BlackRock, Invesco, WisdomTree, and Direxion.&nbsp;</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> BlackRock spot Bitcoin ETF added to NASDAQ’s clearing agency
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/valkyrie-s-mcclurg-expects-spot-bitcoin-etf-approval-in-november-2023-tbt68959.html">https://thebittimes.com/valkyrie-s-mcclurg-expects-spot-bitcoin-etf-approval-in-november-2023-tbt68959.html</a></p>

Valkyrie’s McClurg expects spot Bitcoin ETF approval in November 2023

TheBitTimes

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