Mike Novogratz Believes Spot BTC ETFs Approval is Inevitable
Mike Novogratz, founder of Galaxy Digital and a prominent advocate of bitcoin, is confident that the approval of spot BTC ETFs filed by BlackRock and Invesco is only a matter of time.
Key Points:
- Novogratz expects the spot BTC ETFs to be approved within the next four to six months.
- During Galaxy Digital’s earnings call, Novogratz revealed that he has inside information from both Invesco and BlackRock indicating that the US Securities and Exchange Commission (SEC) will give the green light.
- He emphasized that this development is significant and plans to aggressively compete for market share once the ETFs are launched.
In Novogratz’s view, the approval of spot BTC ETFs is a major milestone and he expressed his determination to capture a significant portion of the market once they become available. He believes it is only a matter of time before the SEC approves these financial products, with an estimated timeline of four to six months.
Hot Take:
The potential approval of spot BTC ETFs by the SEC is generating excitement in the cryptocurrency community. If Novogratz’s insider information is accurate, it could pave the way for increased mainstream adoption of bitcoin and potentially boost its price. This development may also create new investment opportunities and contribute to the overall growth of the cryptocurrency market.
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