Bitcoin ETF could be approved by end of November

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Bitcoin ETF could be approved by end of November
Bitcoin ETF could be approved by end of November

The U.S. may soon launch its first Bitcoin ETF, with Valkyrie and Bitwise leading the way and expecting billions of dollars in investment.

chief information officer Valkyrie The U.S. Bitcoin ETF is expected to be approved soon, possibly before the end of November, suggesting a launch in 2024.

The latest news from Valkyrie states that the upcoming SEC request for comment may lead to changes in the final rules for the listing of Bitcoin ETFs.

Despite concerns about market manipulation and custody challenges, Bitwise is also hopeful.

Both companies foresee huge demand, with Valkyrie anticipating $10 billion soon after launch and Bitwise anticipating $50 billion within five years.

Currently, about ten companies, inspired by BlackRock’s move, are racing to launch the first spot Bitcoin ETFs in the United States.

Grayscale’s recent legal victory has also put pressure on the SEC, but they are looking to convert existing funds to Bitcoin funds rather than launch a new one.

General Bitcoin News.



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