Galaxy Digital Holdings’ CEO Michael Novogratz, in an interview with CNBC, expressed his belief that Bitcoin spot exchange-traded funds (ETFs) will be approved by the end of this year.
“We believe this will happen this year, in 2023.”Michael Novogratz
The increased pressure for the approval of spot Bitcoin ETFs has become even more positive recently, especially after Grayscale Investments’ request for the U.S. Court of Appeals to reconsider the proposal of the Securities and Exchange Commission (SEC) was accepted by three judges in August.
Following the Grayscale decision, how the SEC will approach this matter remains a subject of curiosity within the crypto community.
While Michael Novogratz’s optimistic outlook is considered a promising development for the cryptocurrency community, it is important to note that, so far, the SEC has not indicated any plans to oppose this decision. However, it is still uncertain what their future steps will be.