In recent conversation with CNBC's 'Squawk Box,' Galaxy Digital CEO Mike Novogratz expressed strong confidence in imminent approval of spot Bitcoin ETF in US
on the fevered speculation surrounding the possible approval of a spot Bitcoin exchange-traded fund . Novogratz, who has partnered with Invesco for an ETF application, voiced his optimism about the prospects of such a product finally being launched in the U.S. in the near future.Now that institutions like BlackRock and others are pushing forward with their applications, the approval has become a matter of not if, but when.
Novogratz also mentioned the immense public demand for such a product, emphasizing BlackRock's vocal support for Bitcoin and its intentions to secure a spot Bitcoin ETF.Further, he has observed a notable shift in the SEC's approach. The cryptocurrency mogul to public filings and comment periods as indicators of a more constructive dialogue., Bloomberg analysts recently opined that there is a more than 90% chance of a Bitcoin ETF being approved before Jan.
Many industry watchers await further clarity on the ETF-approval process, which has, until now, remained shrouded in uncertainty.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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