{"id":176652,"date":"2023-10-18T20:45:03","date_gmt":"2023-10-18T15:15:03","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176652"},"modified":"2023-10-18T20:45:03","modified_gmt":"2023-10-18T15:15:03","slug":"yeah-its-gonna-get-approved-mike-novogratz-predicts-2023-approval-for-spot-bitcoin-etfs-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/yeah-its-gonna-get-approved-mike-novogratz-predicts-2023-approval-for-spot-bitcoin-etfs-crypto-news\/","title":{"rendered":"\u2018Yeah, it\u2019s gonna get approved\u2019: Mike Novogratz predicts 2023 approval for spot Bitcoin ETFs – Crypto News"},"content":{"rendered":"

In an Oct 18. interview<\/a>, Mike Novogratz, the CEO of Galaxy Digital, expressed confidence in the impending approval of a spot Bitcoin exchange-traded fund (ETF), saying, \u201cYeah, it\u2019s gonna get approved.\u201d<\/p>\n

Speaking on SquawkBox<\/em>, Novogratz<\/a> emphasized the perceived shift in the U.S. Securities and Exchange Commission\u2019s (SEC) stance on such ETFs. According to the CEO, significant progress has been made in the dialogue with the SEC, pointing towards an approval soon, potentially in 2023.<\/p>\n

Novogratz drew attention to the SEC\u2019s recent decision not to appeal a decision in its legal battle with Grayscale, saying the decision could prove pivotal.<\/p>\n

He said of the ruling:<\/p>\n

\n

\u201cThe judge said\u2026 you have a futures ETF, and you\u2019re saying you can\u2019t have a cash ETF. That makes, intellectually, zero sense. And I think that put the SEC on the back foot. And I think Gensler needs a win\u2014there\u2019s a tremendous amount of pressure to do something that is rational. The American public wants this. BlackRock, who\u2019s the largest asset manager in the world, is out publicly saying we\u2019re gonna get this done\u2026 it just feels like the dialogue with the SEC is all heading in the right direction.<\/p>\n<\/blockquote>\n

The Galaxy Digital CEO suggested that the underlying shift in sentiment and the growing acceptance of Bitcoin as a credible asset by institutional players like Blackrock<\/a> contribute to this optimistic outlook.<\/p>\n

Furthermore, Novogratz said that the public filings and comments regarding the Bitcoin ETF approval process have become more constructive, implying that the SEC\u2019s approach to thinking about Bitcoin ETFs has fundamentally shifted.<\/p>\n

Despite this, Novogratz\u2019s predictions should be taken in context. Critics argue that his vested interest in Bitcoin and its broader acceptance might influence his views. Nevertheless, a perceived momentum is building around the approval of a spot Bitcoin ETF.<\/p>\n

Novogratz further noted that the market would likely respond positively to any such approval, suggesting a potential surge in Bitcoin\u2019s value. He emphasized that this potential surge is not merely speculation but is backed by the commitment of major players like BlackRock<\/a>, Invesco, and Fidelity<\/a>.<\/p>\n

The post \u2018Yeah, it\u2019s gonna get approved\u2019: Mike Novogratz predicts 2023 approval for spot Bitcoin ETFs<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

In an Oct 18. interview, Mike Novogratz, the CEO of Galaxy Digital, expressed confidence in the impending approval of a spot Bitcoin exchange-traded fund (ETF), saying, \u201cYeah, it\u2019s gonna get approved.\u201d Speaking on SquawkBox, Novogratz emphasized the perceived shift in the U.S. Securities and Exchange Commission\u2019s (SEC) stance on such ETFs. According to the CEO, […]<\/p>\n","protected":false},"author":2,"featured_media":176653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-176652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176652","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=176652"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176652\/revisions"}],"predecessor-version":[{"id":176655,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176652\/revisions\/176655"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/176653"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}