Galaxy Digital CEO Anticipates SEC Approval for Bitcoin ETF Amid Shifting Landscape
During the Q2 earnings call of Galaxy Digital Holdings, CEO Mike Novogratz expressed optimism about the potential approval of a spot bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) within the next four to six months.
Novogratz referenced insights from contacts at Blackrock and Invesco, both of which have filed for bitcoin ETFs with the SEC. He emphasized that the SEC’s approval seems more a matter of “when” than “if,” suggesting a probable six-month window for the decision. Novogratz highlighted Blackrock’s notable shift in perspective, with CEO Larry Fink endorsing crypto as a means to transcend currencies.
The Galaxy Digital CEO believes that an approved ETF would facilitate significant capital influx into the crypto space. He also underscored the Ripple ruling’s importance, stating that it pressures regulatory clarity, potentially encouraging bipartisan legislative efforts. Additionally, Novogratz commented on the SEC’s intention to appeal the Ripple case ruling.
Clever Robot News Desk 14th August 2023
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