SEC to Greenlight Bitcoin Spot ETF in 2023 Says Mike Novogratz
Mike Novogratz, the Chief Executive Officer of Galaxy Digital, is highly optimistic about the approval of a Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) within the current year, according to his recent statements.
In a detailed conversation with CNBC, Mike Novogratz, the CEO of Galaxy Digital, conveyed his strong belief in the SEC’s endorsement of a Bitcoin spot ETF in 2023, asserting that “It’s gonna get approved.” He placed particular emphasis on the SEC’s decision not to contest the ruling favoring Grayscale Investments LLC back in August. This development was widely seen as a pivotal moment in the entire ETF approval process.
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Mike Novogratz also pointed out the positive and constructive dialogue that has been unfolding between Bitcoin ETF providers and the SEC, which, in his view, suggests a favorable environment for the approval of a spot Bitcoin ETF. Moreover, he disclosed that Galaxy Digital is engaged in a collaborative effort with Invesco to submit an application for a Bitcoin ETF.
Novogratz’s stance highlights the growing industry anticipation for the approval of a Bitcoin spot ETF, a move that could potentially significantly impact the accessibility of Bitcoin to mainstream investors and further legitimize the cryptocurrency in traditional financial markets.
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