Wednesday

Spot

<ul>
 <li>McClurg anticipates that ten ETFs will debut simultaneously.</li>
 <li>The CIO predicts that $200M to $400M would come into Valkyrie’s ETF on Thursday.</li>
</ul>
The first bitcoin spot exchange-traded fund is awaiting approval or rejection from the U.S <a href="https://thenewscrypto.com/sec-issues-fomo-warning-ahead-of-potential-bitcoin-etf-approvals/" target="_blank" rel="noopener noreferrer nofollow">SEC</a>, and crypto traders are waiting eagerly with high hopes. <a href="https://thenewscrypto.com/valkyrie-investments-files-fourth-amendment-for-spot-bitcoin-etf/" target="_blank" rel="noopener noreferrer nofollow">Valkyrie Investments</a>, one of the issuers, is expecting a decision soon.
Valkyrie Investments co-founder and CIO <a href="https://www.crunchbase.com/person/steven-mcclurg" target="_blank" rel="noopener noreferrer nofollow">Steven McClurg</a> stated:
<blockquote class="wp-block-quote">
 “We’re expecting the SEC will deem the ETFs effective at close of business on Wednesday and the trading to begin on Thursday morning.”
</blockquote>
When trading starts on Thursday, McClurg predicts that $200 million to $400 million would come into Valkyrie’s ETF. In the first two weeks, he estimates that all participants may witness inflows of $4 to $5 billion.
<h3 class="wp-block-heading" id="h-retail-investors-likely-first-backers">Retail Investors Likely First Backers</h3>
Though not all thirteen ETF candidates may be selected in the first round, McClurg anticipates that ten ETFs will debut simultaneously.
So far, U.S. institutional investors have been the bitcoin spot ETF’s greatest hope, but according to McClurg, retail investors are more likely to be the first backers. He speculated that this is due in part to the fact that financial advisers often wait to suggest new financial products to clients until they have had a chance to see how they trade.
Establishing a spot bitcoin ETF differs significantly from establishing a “normal” <a href="https://www.investopedia.com/terms/e/etf.asp" target="_blank" rel="noopener noreferrer nofollow">ETF</a> in that the latter requires the issuer to get the SEC’s approval despite the fact that the assets are held by a cryptocurrency exchange rather than a conventional custodian.
Market excitement has been heightened as experts from Bloomberg Intelligence have estimated the probability of approval this week at an astounding 95%. Traders and investors in cryptocurrency could expect a wild week ahead due to the decision that the U.S SEC is expected to make.
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Valkyrie Forecasts Spot Bitcoin ETFs Trading to Commence on January 11

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