{"id":82829,"date":"2023-08-09T14:05:52","date_gmt":"2023-08-09T11:05:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82829"},"modified":"2025-09-12T07:26:40","modified_gmt":"2025-09-12T04:26:40","slug":"novogratz-says-sec-could-approve-spot-bitcoin-etf-by-february-2024","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/novogratz-says-sec-could-approve-spot-bitcoin-etf-by-february-2024\/","title":{"rendered":"Novogratz Says SEC Could Approve Spot Bitcoin ETF by February 2024"},"content":{"rendered":"

The first spot-based Bitcoin ETF (ETF<\/a>) could win approval in the United States by around February 2024. Galaxy Digital CEO Mike Novogratz said this, citing sources at BlackRock and Invesco.<\/p>\n

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Data: X<\/a>.<\/figcaption><\/figure>\n

During a second-quarter earnings conference call, Galaxy Digital founder Mike Novogratz told shareholders:<\/p>\n

\n

“This is a very important moment, because our contacts at Invesco and BlackRock give you the ability to suppose that this is a matter of when, not if. The window is likely six months.”<\/p>\n<\/blockquote>\n

In his view, the SEC will approve a Bitcoin ETF within four to six months.<\/p>\n

In June BlackRock filed an application<\/a> to launch a spot Bitcoin ETF. Following this, Galaxy, in partnership with the asset manager Invesco (which manages WisdomTree assets), as well as Valkyrie Investments<\/a> and Fidelity Investments<\/a>, did the same<\/a>. Since April, the regulator has been reviewing a similar request<\/a> from ARK Invest and 21Shares.<\/p>\n

So far the SEC has not granted any approvals for launching spot Bitcoin ETFs. The Commission has granted an exception for futures-based products on the first cryptocurrency from ProShares<\/a> and Valkyrie Investments<\/a>.<\/p>\n

Bernstein analysts<\/a> and former SEC chairman<\/a> Jay Clayton<\/a> assessed the odds of a new wave of contenders as high.<\/p>\n

In early August, Bloomberg analyst James Seiffart raised the odds<\/a> of regulator approval for a spot Bitcoin fund to 65%. A few months earlier, the analyst believed it would not exceed 1%.<\/p>\n

ARK Invest CEO Cathie Wood predicted<\/a> a positive SEC ruling on several applications at once.<\/p>\n

Regulators have also received six requests<\/a> to launch Ethereum futures-based ETFs.<\/p>\n","protected":false},"excerpt":{"rendered":"

The first spot-based Bitcoin ETF could receive approval in the United States by around February 2024, according to Galaxy Digital CEO Mike Novogratz, citing sources at BlackRock and Invesco.<\/p>\n","protected":false},"author":1,"featured_media":82830,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1303,1138,1211],"class_list":["post-82829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-mike-novogratz","tag-opinions","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=82829"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82829\/revisions"}],"predecessor-version":[{"id":82831,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82829\/revisions\/82831"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/82830"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=82829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=82829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=82829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}