• Home

  • Promos

  • News

  • Media

News

09 August 2023
Bitcoin ETF Approval Expected Within Months

Bitcoin ETF Approval Expected Within Months

The long wait for a Bitcoin exchange-traded fund (ETF) in the United States may soon be over, with major industry players predicting approval from the Securities and Exchange Commission (SEC) within months.

Galaxy Digital CEO Mike Novogratz cited sources at BlackRock and Invesco suggesting the SEC will likely approve a Bitcoin ETF within 4-6 months, calling it a “big, big deal.” Galaxy Digital has reapplied for a spot in Bitcoin ETF with Invesco, setting the stage for fierce competition between issuers like BlackRock, Invesco, and Galaxy.

“Once approved, spot Bitcoin ETF issuers such as BlackRock and Invesco will be fighting tooth and nail for market share,” Novogratz said.

Galaxy Digital President Chris Ferraro speculated the SEC may greenlight a Bitcoin ETF to avoid appearing obstructionist toward crypto. Analysts believe approvals could come even sooner if the SEC loses its case against Grayscale regarding a spot Bitcoin ETF conversion.

After years of rejection, the SEC finds itself under mounting pressure both from within and outside the crypto industry to finally approve a Bitcoin ETF. Such a move would allow mainstream investors easy exposure to Bitcoin through brokerage accounts.

With crypto adoption accelerating and Bitcoin trading more independently of stocks, the SEC is running out of reasons not to let a Bitcoin ETF through. The long wait may soon be over if insider predictions of approval within months prove accurate.

Recommended to read

Endrick, the Phenom Brazilian Teen Breaks Records with Winning Goal Against England
9ヶ月前

Endrick, the Phenom Brazilian Teen Breaks Records with Winning Goal Against England

Beneath the iconic Wembley arch on Saturday night, the world witnessed the emergence of a new Brazilian sensation.

Read more
Bitcoin's Path to Challenging Gold's $17 Trillion Market Cap
8ヶ月前

Bitcoin's Path to Challenging Gold's $17 Trillion Market Cap

Bitcoin analyst Willy Woo examines the potential for Bitcoin to surpass gold's $17.7 trillion market capitalization, considering factors like the stoc...

Read more
Mastering Bitcoin Blackjack: Optimal Strategy for Crypto Casinos
5ヶ月前

Mastering Bitcoin Blackjack: Optimal Strategy for Crypto Casinos

Learn the best strategy for playing blackjack at Bitcoin gambling sites, focusing on the 'Basic' strategy and key game selection metrics to reduce the...

Read more

Get K8 Airdrop update!

Join our subscribers list to get latest news and updates about our promos delivered directly to your inbox.