Galaxy Digital CEO Novogratz Anticipates Bitcoin ETF Approval by Jan 10
Galaxy Digital CEO Michael Novogratz predicts a significant milestone in the cryptocurrency market with the first approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).
In a recent interview with CNBC, Novogratz elaborated on his anticipations, highlighting the 2023 cryptocurrency market and the Bitcoin price. He underscored the significant role of central banking decisions in shaping market trends across various asset classes. Besides, Novogratz expressed confidence in the SEC’s imminent approval of spot Bitcoin ETFs.
“We’re gonna get this ETF before Jan. 10. That’s kind of the drop-dead date that Gensler has before he gets in trouble with Grayscale and the lawsuit,” said Novogratz.
Grayscale CEO Calls for Simultaneous Approval
It is unclear if Novogratz was specifically referring to Grayscale’s Bitcoin ETF or any other Bitcoin ETF applications filed by other financial institutions. Meanwhile, Grayscale CEO Michael Sonnenshein said the SEC needs to approve Bitcoin ETF filings simultaneously to avoid giving any issuer an early advantage.
“We’ve publicly been advocates of the fact that when the commission is ready to give the requisite approvals for spot products to come to market, that it should be done all at once,” said Sonnenshein in an interview with Bloomberg. “The issuers who are operationally ready to launch their products should come out the gate all at once.”
