{"id":176616,"date":"2023-10-18T19:17:50","date_gmt":"2023-10-18T13:47:50","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176616"},"modified":"2023-10-18T19:17:50","modified_gmt":"2023-10-18T13:47:50","slug":"mike-novogratz-says-sec-to-approve-spot-bitcoin-etf-this-year-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/mike-novogratz-says-sec-to-approve-spot-bitcoin-etf-this-year-crypto-news\/","title":{"rendered":"Mike Novogratz Says SEC To Approve Spot Bitcoin ETF This Year – Crypto News"},"content":{"rendered":"

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Mike Novogratz, CEO of crypto asset management company Galaxy Digital, said that the Bitcoin spot ETF is expected to receive approval from the U.S. Securities and Exchange Commission (SEC) this year. Novogratz believes the constructive discussion between Bitcoin ETF issuers and the SEC indicates a likelihood of a spot Bitcoin ETF approval soon.<\/span><\/p>\n

Mike Novogratz Says Spot Bitcoin ETF Coming This Year<\/h2>\n

During a discussion<\/a> on Squawk Box on October 18, Mike Novogratz believes the U.S. SEC would approve a spot Bitcoin ETF in 2023. The communications between the SEC and Bitcoin ETF issuers show things are moving in the right direction.<\/span><\/p>\n

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Mike Novogratz said the SEC not appealing against the Grayscale ruling is most significant and considering reviewing Grayscale\u2019s filing to convert GBTC to a spot Bitcoin ETF. He thinks it\u2019s now \u201cA question of when not if.\u201d<\/span><\/p>\n

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\u201cWe think a Bitcoin <\/span>ETF will be approved this year in 2023. All the indications of dealing seem to be heading in the right direction. <\/span>There\u2019s a tremendous amount of pressure to do something that is rational. The American public wants this.\u201d<\/span><\/p>\n<\/blockquote>\n

BlackRock, the largest asset manager, earlier said \u201cWe will get this done.\u201d Novogratz <\/span><\/p>\n

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Bloomberg ETF analyst James Seyffart pointed at<\/a> recent amendments recommended by the US SEC to spot Bitcoin ETF issuers. These include discussions on custodial arrangements, adherence to GAAP, risk disclosures, and electricity consumption in mining. He also believes these are positive signs of considering an approval of spot Bitcoin ETF by the SEC.<\/p>\n

CoinGape Media earlier reported<\/a> that Bloomberg analysts Eric Balchunas and Seyffart increased the odds of a spot Bitcoin ETF approval to 90% after Ark Invest and 21Shares updated its spot Bitcoin ETF prospectus.<\/p>\n

Also Read: Binance Vs US SEC \u2013 Binance.US Files Sealed Documents In Lawsuit<\/a><\/strong><\/p>\n

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Mike Novogratz, CEO of crypto asset management company Galaxy Digital, said that the Bitcoin spot ETF is expected to receive approval from the U.S. Securities and Exchange Commission (SEC) this year. Novogratz believes the constructive discussion between Bitcoin ETF issuers and the SEC indicates a likelihood of a spot Bitcoin ETF approval soon. Mike Novogratz […]<\/p>\n","protected":false},"author":2,"featured_media":160161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-176616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176616"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176616\/revisions"}],"predecessor-version":[{"id":176618,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176616\/revisions\/176618"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/160161"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}