Valkyrie CIO Expects Spot BTC Approval Before November End

Valkyrie’s chief investment officer (CIO), Steven McClurg said that the much-hyped spot Bitcoin ETF could be approved as early as the end of November.

While speaking to, McClurg stated that he expects the U.S. SEC will send a second request for comments on various spot Bitcoin ETFs in coming weeks. He said that the regulator will approve the necessary 19b-4 filings after those new requests.

Valkyrie submitted its amended application for Bitcoin ETF earlier this week on which the company is hoping to be approved in near time. 

McClurg added that the approval timeline, which aims for launch in February next year, requires SEC to ask for more details in S-1 filing before the launch. 

“Before anything else happens, we get a second round of comments, and I believe we’ll probably get those comments in the next one to three weeks,” said McClurg in an interview. 

The SEC chair, Gary Gensler has previously said that the agency is reviewing 8 to 10 spot BTC ETF applications which includes filings from leading asset managers BlackRock and VanEck as well. 

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2023-11-04 15:16