Valkyrie CIO says SEC may approve first Bitcoin spot ETF within next 25 days

A new prediction on “Bitcoin spot ETF approval chances” came to light by Steven McClurg. 

Valkyrie Investments is a Nashville headquartered leading financial services firm with a focus on digital assets. World’s most popular veteran financial leaders are big names in this investment firm e.g. Guggenheim Partners, UBS, Chicago Board of Trade, Chicago Mercantile Exchange, and The World Bank.

Recently in an interview with ETF.com, Valkyrie’s Chief Investment Officer (CIO), Steven McClurg shared his opinion on the Bitcoin spot ETF applications and said that speculations on these Bitcoin vehicles are showing that regulatory approval may come before the end of Nov 2023.

According to McClurg, the United States Securities and Exchange Commission (SEC) would approve the necessary 19b-4 filings after new requests.

Last week, Valkyrie submitted its amended application for a Bitcoin ETF product called Valkyrie Bitcoin Fund (BRRR). and hopes that it will soon get approval for its Bitcoin spot ETF.

Here Valkyrie’s CIO is optimistic about the next regulatory move for Bitcoin spot ETF applications but here we can’t say with full certainty that Valkyrie will succeed in securing regulatory approval in the first phase because huge numbers of such Bitcoin investment vehicles are in queue to get approval from the US SEC. 

A few weeks ago, SEC chairman Gary Gensler confirmed that the agency was reviewing 8 to 10 Bitcoin spot ETF applications but failed to provide any particular period for the approval dates. 

BlackRock, VanEck, WisdomTree, Invesco, Galaxy, Global X, Hashdex, and Franklin Templeton are top names in the list of Bitcoin spot ETF applicants. BlackRock & VanEck are expecting to win regulatory approval in the initial phase.

Last month a few ETF experts shared their opinion on all such applications and said that the SEC agency will approve multiple Bitcoin spot ETF applications simultaneously, instead of one by one, to keep any firm away from first mover advantage.

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