In an interview with Fortune, Valkryie cofounder Steven McClurg said he expects their Spot Bitcoin ETF will receive approval on Wednesday. Moreover, he predicted that trading would then start as soon as Thursday morning. Indeed McClurg discussed the investment product and the process that has preceded the expected approval.
Additionally, McClurg discussed US Securities and Exchange Commission (SEC) Chairman Gary Gensler. Often maligned, McClurg shared a different perspective on the chairman. Specifically, the Valkyrie founder said that Gensler has been “good for Bitcoin” throughout his tenure.
Also Read: Valkyrie Files Registration of Securities With SEC For Bitcoin ETF
Valkyrie Founder Predicts Bitcoin Approval Wednesday, Trading to Start Thursday
For the past few months, anticipation over a Spot Bitcoin ETF in the United States has reached an all-time high. Subsequently, the industry-wide expectation is that those approvals are set to be issued at some point that week. Now, many of those prospective issuers are sharing their predictions, that seem to fall in line with that thinking.
Speaking with Fortune, Valkyrie cofounder Steven McClurg stated that he expects SEC approval of its Spot Bitcoin ETF to be granted on Wednesday. Additionally, he noted that the asset management firm founder predicts trade to begin as early as Thursday. Conversely, it is assumed that many of the Spot Bitcoin ETF applicants are prepared with a similar timeline.
Also Read: BlackRock Lines up $2 Billion Capital for Bitcoin ETF, Sources Say
Speaking to writer Leo Schwartz, McClurg highlighted the process that the firm has undergone to receive approval. Specifically, he noted that he has not heard of a commission vote regarding the ETF applications. Additionally, he discussed utilizing cash for investment products. Ultimately stating that its presence allows “more market participants.”
Finally, McClurg spoke about SEC Chari Gary Gensler, who he said was “good for Bitcoin.” Gensler has long drawn the ire of the digital asset sector, mostly for his combative, enforcement-first approach to regulation. Although McClurg may view him as a benefit to Bitcoin, he has proven not to be for the great digital asset market.
Still, Gensler is expected to approve the more than a dozen Spot Bitcoin ETF applications that the agency is reviewing. Even if it was due to court requirements, the presence of the United States’ first Spot Bitcoin ETFs should be a landmark development for the industry as a whole.
