CDS Crypto News Anticipation Grows for SEC Approval of Bitcoin Spot ETF by November’s End
Crypto News

Anticipation Grows for SEC Approval of Bitcoin Spot ETF by November’s End

The financial world is buzzing with anticipation over the potential approval of a Bitcoin spot exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC) this month, as suggested by Steven McClurg of Valkyrie.

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Anticipation Grows For Sec Approval Of Bitcoin Spot Etf By November'S End

Anticipation Grows for SEC Approval of Bitcoin Spot ETF by November’s End

Crypto News – The financial world is buzzing with anticipation over the potential approval of a Bitcoin spot exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC) this month, as suggested by Steven McClurg of Valkyrie.

Valkyrie’s Chief Investment Officer, Steven McClurg, who oversees two ETFs with a combined asset value of $51.1 million, is optimistic about the approval of a Bitcoin spot ETF. He believes that companies have effectively addressed concerns related to market manipulation and pricing that had previously led to SEC rejections. McClurg is of the opinion that these issues have been substantially resolved, and further amendments are unlikely to be necessary.

Looking ahead, McClurg anticipates that the SEC will soon allow companies to provide additional comments, potentially followed by the approval of firms’ 19b-4 rule changes by the end of the month. Valkyrie, in particular, has recently updated its application for a Bitcoin spot ETF. The potential approval of a Bitcoin Spot ETF is driving companies to refine this investment tool, preparing to attract significant capital.

Anticipation Grows For Sec Approval Of Bitcoin Spot Etf By November'S End

McClurg revealed in a recent interview, “If we receive approval in late November, we could potentially launch the ETF in February.” He suggests that the agency might wait until the new year to request firms to finalize their S-1 filings. “We are likely to see another opportunity for comments before progressing, which I expect to be issued in the next few weeks.”

The surge in Bitcoin prices over the past year, reaching levels not seen since May 2022, reflects investor confidence in the potential approval of a Bitcoin Spot ETF. Prominent firms like BlackRock Inc., Fidelity Investments, ARK Invest, Grayscale Investments, and others continue to endorse ETFs that hold actual Bitcoin, as opposed to the currently approved Bitcoin futures. The approval of rule changes and registration statement filings may occur simultaneously or follow one another in the process.

Anticipation Grows For Sec Approval Of Bitcoin Spot Etf By November'S End
Sources:Coincu

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