A spot-Bitcoin ETF is a matter of “when, not if,” says Galaxy Digital’s novogratz — who tipped one would come sometime before February 2024.
Speaking to shareholders, Novogratz said he didn’t have a comment on the expected timing of the ETF’s approval, which is an unknown as it sits with the Securities and Exchange Commission., spot Bitcoin ETF issuers such as BlackRock and Invesco will be fighting tooth and nail for market share.
“The news of both BlackRock filing ETF and quite frankly, Invesco Plus Galaxy, we're going to fight like cats and dogs to win market share there once it gets approved.” In response to a question, Galaxy Digital president Chris Ferraro added he wouldn’t be surprised if the SEC ends up“I think that's where the potential ETF approval comes in saying, hey, you can't call us anti-crypto, we just approved an ETF. And so we're hoping that that's the same for our filing," said Ferraro.Meanwhile, some analysts believe the wave of spot Bitcoin ETFs could come even sooner, depending on how a judge rules in Grayscale’s lawsuit against the SEC.
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