Bitcoin ETF

Bitcoin

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/anticipation-for-the-approval-of-a-spot-bitcoin-etf/" data-wpel-link="internal">Anticipation for the Approval of a Spot Bitcoin ETF</a><br></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/bitcoin-and-ethereum-price-analysis-long-term-outlook-and-potential-levels/" data-wpel-link="internal">Bitcoin</a> price volatility persists, and substantial buying/selling activities are significantly affecting the price. Investors should be ready for more. Amidst all this, Steven McClurg, co-founder and CIO of Valkyrie Investments, made important statements today. His comments are especially critical as his firm is one of those that have applied for an ETF.</p> 
<h2 style="text-align: justify" id="spot-bitcoin-etf-approval-expected">Spot Bitcoin ETF Approval Expected</h2> 
<p style="text-align: justify">Steven McClurg, co-founder and CIO of Valkyrie Investments, clearly stated that the SEC would grant approval for a spot Bitcoin ETF by the end of the workday on Wednesday. As a senior executive who is currently in talks with the SEC as a potential ETF issuer, he may have some evidence that he cannot disclose. The first trading day is expected to be Thursday.</p> 
<p style="text-align: justify">The SEC has been in discussions with issuers for a long time, and we are talking about something that has not been done to date. Normally, after the comment periods, the SEC, which directly issues rejection decisions, now feels cornered after the GBTC victory and is moving from a negative approach towards BTC ETFs to a solution-oriented one.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-300135 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/Spot-Bitcoin-ETF-Son-DURUMU.png" alt="" width="1000" height="450"></p> 
<p style="text-align: justify">ETF filings are almost complete, AP agreements have been made, S-1 forms have been uploaded, and everything is ready for the official approval tomorrow. January 10 is the final decision date for the joint ETF application made by Ark and 21Shares, and it is the deadline because of the assumption that the SEC will give all ready applicants the chance to be the first.</p> 
<h2 style="text-align: justify" id="key-details-for-the-spot-bitcoin-etf">Key Details for the Spot Bitcoin ETF</h2> 
<p style="text-align: justify">Everyone’s eyes will be on the volume figures for the first trading day on Thursday and Friday. If trading starts on Thursday, McClurg expects an inflow of $200 million to $400 million into Valkyrie’s ETF. The target entry amount for all participants is $5 billion within a few weeks.</p> 
<p style="text-align: justify">While there is talk that BlackRock alone could attract $2 billion in demand in the early days, the $5 billion target might remain optimistic. And the higher this figure is, the more we should expect to see a rise in the price of Bitcoin.</p> 
<p style="text-align: justify">Not all of the 13 ETF applications may reach the finish line in the first wave, but McClurg expects the first batch of 10 ETFs to be launched simultaneously.</p> 
<p style="text-align: justify">Additionally, Steven McClurg said;</p> 
<blockquote> 
 <p style="text-align: justify">“There’s a lot of work to be done, so I think one or two may not come to life on the first day. I know my team worked over the Christmas holiday and last week to make sure we were ready. There’s a lot of work behind the scenes – this is not like a normal ETF. One complexity here is having two custodians, one for crypto and the other for cash, and making sure these two accounts are connected. Launching in such a case is almost like double the work. We have been working on this ETF for three years, and we won’t give up even after a few more years. The ETF <a href="https://newslinker.co/category/business/" data-wpel-link="exclude">business</a> is tough, and you need to be determined to do it in the long term. Clearly, Bitcoin is a very exciting place where people will come together for a long time.”</p> 
</blockquote> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/anticipation-for-the-approval-of-a-spot-bitcoin-etf/" data-wpel-link="internal">Anticipation for the Approval of a Spot Bitcoin ETF</a></h5>

Anticipation for the Approval of a Spot Bitcoin ETF

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