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Mike Novogratz, Galaxy Digital CEO, opined that Bitcoin could swiftly race above its 2021 all-time high once the SEC greenlights spot BTC ETFs.&nbsp; 
Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) proponent Mike Novogratz predicts a return to all-time highs (ATH) followed by exponential growth for crypto’s king token after the U.S. Securities and Exchange Commission (SEC) issues approvals for spot Bitcoin ETFs, a development widely expected by January 2024.&nbsp; 
<blockquote class="wp-block-quote"> 
 Prices are set on the margin, so that’s all new money. We will see a pretty successful shift of psychology when the government says you are allowed to buy Bitcoin. <cite>Mike Novogratz, Galaxy Digital CEO</cite>
</blockquote> 
 You might also like: <a href="https://crypto.news/mike-novogratz-predicts-a-bull-year-for-crypto/"> Mike Novogratz predicts a bull year for crypto </a> 
Novogratz <a href="https://fortune.com/crypto/2023/11/30/mike-novogratz-galaxy-digital-bitcoin-all-time-high-spot-etfs/" target="_blank" rel="noopener">added</a> that an ascent back to $69,000, Bitcoin’s previous ATH from 2021, should occur within a year as backing for spot BTC ETFs from the SEC should capture broad interest from retail and institutional investors alike.&nbsp; 
Bitcoin fell to $16,000 less than two years after its ATH due to multiple marquee crashes in the crypto industry. Entities like Terraform Labs, Three Arrows Capital and <a href="https://crypto.news/ftx-approved-to-sell-assets-worth-873m-for-creditor-repayment/">FTX</a>, which collectively accounted for billions of digital assets, buckled into bankruptcies throughout 2022.&nbsp; 
However, BTC has seen a resurgence in demand following BlackRock’s <a href="https://crypto.news/bloomberg-blackrock-and-grayscale-meeting-with-sec-about-bitcoin-etf-issuance/">filing</a> for a spot Bitcoin ETF. Several other issuers like <a href="https://crypto.news/ark-invest-discloses-80-bps-fee-in-spot-bitcoin-etf-filing/">ARK Invest</a>, Bitwise, Valkyrie, and WisdomTree followed suit while GBTC issuer Grayscale attempted to convert its Bitcoin trust into a spot ETF.&nbsp; 
Since September, Bitcoin has jumped over 45 percent and traded around $37,000 per TradingView data. 
These filings have also spurred interest in crypto’s second largest token by market cap, Ethereum with asset managers like <a href="https://crypto.news/fidelity-investments-floats-ethereum-etf-application/">Fidelity</a> seeking approval for ETFs that invest in the number one altcoin.&nbsp; 
 Read more: <a href="https://crypto.news/analyst-points-to-imminent-signs-of-spot-bitcoin-etf-approval/"> Analyst points to imminent signs of spot Bitcoin ETF approval </a>

Mike Novogratz: Bitcoin poised for flight over ATH on spot BTC ETF approval

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