Key Points:

• SEC decision on first Bitcoin spot ETF imminent, with Valkyrie anticipating Wednesday approval.
• Forecasts $200-400 million influx on Thursday, potential industry-wide $4-5 billion within weeks.
• McClurg addresses unprofitability in early stages, expresses long-term commitment amid Bitcoin’s exciting prospects.

Valkyrie Investments anticipates a favorable outcome, expecting the SEC to declare the spot Bitcoin ETFs effective on Wednesday, with trading kicking off on Thursday.

In an interview, Steven McClurg, co-founder and CIO of Valkyrie Investments, shared optimistic projections. He foresees a substantial influx of $200 million to $400 million into Valkyrie’s ETF on the first day, with an industry-wide potential of $4-5 billion in the initial weeks.

While McClurg acknowledges the possibility that not all 13 ETF applicants might launch simultaneously, he anticipates the first batch of 10 ETFs to go live concurrently. He highlights the behind-the-scenes complexities, emphasizing the unique challenges of a crypto ETF, particularly the need for coordination between custodians for crypto and cash.

Valkyrie’s Bold Bet on Bitcoin ETF Approval!

McClurg dismisses concerns about Coinbase’s SEC lawsuit, distinguishing it as a routine part of financial firms’ experiences. He assures that Coinbase’s custody business remains unaffected and robust.

Addressing the fee competition, Valkyrie enters the race with a 0.8% fee, positioning itself among the middle range. McClurg acknowledges the initial unprofitability of ETFs, emphasizing Valkyrie’s commitment and three years of dedicated work, expressing confidence in turning a profit within the first year of trading.

In McClurg’s vision, the initial investor base is likely to comprise retail investors, financial advisors, and potential outflows from Grayscale’s fund. Despite the challenges, he remains resolute, asserting that the excitement surrounding Bitcoin ensures a sustained and thriving market for the long term. As the crypto community awaits the SEC’s decision, Valkyrie Investments stands ready for what could be a transformative moment in the crypto ETF landscape.

Bitcoin ETFs

spot bitcoin etfs

Valkyrie Investments

Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Related Posts

• Cathie Wood Predicts Bitcoin’s Potential Beyond Digital Gold
• Peanut the Squirrel Spikes to $1.3 as Coinbase Adds It to Listing Roadmap
• Vancouver Bitcoin Proposal Has Now Been Approved by City Council
• Spanish Bank Invests In Bitwise Aptos Staking ETP On SIX
• Abu Dhabi Market Declares Tether USDT Virtual Asset Status
• Tether Net Profits Reach $10 Billion in 2024
• Upbit Delays Service Temporarily as Traffic Skyrockets
• EigenLayer ELIP-002 Introduced to Penalize Poorly Performing Operators

News

Valkyrie Set to Launch Spot Bitcoin ETFs Wednesday, Trading Challenges Await!

Key Points:

• SEC decision on first Bitcoin spot ETF imminent, with Valkyrie anticipating Wednesday approval.
• Forecasts $200-400 million influx on Thursday, potential industry-wide $4-5 billion within weeks.
• McClurg addresses unprofitability in early stages, expresses long-term commitment amid Bitcoin’s exciting prospects.

Valkyrie Investments anticipates a favorable outcome, expecting the SEC to declare the spot Bitcoin ETFs effective on Wednesday, with trading kicking off on Thursday.

In an interview, Steven McClurg, co-founder and CIO of Valkyrie Investments, shared optimistic projections. He foresees a substantial influx of $200 million to $400 million into Valkyrie’s ETF on the first day, with an industry-wide potential of $4-5 billion in the initial weeks.

While McClurg acknowledges the possibility that not all 13 ETF applicants might launch simultaneously, he anticipates the first batch of 10 ETFs to go live concurrently. He highlights the behind-the-scenes complexities, emphasizing the unique challenges of a crypto ETF, particularly the need for coordination between custodians for crypto and cash.

Valkyrie’s Bold Bet on Bitcoin ETF Approval!

McClurg dismisses concerns about Coinbase’s SEC lawsuit, distinguishing it as a routine part of financial firms’ experiences. He assures that Coinbase’s custody business remains unaffected and robust.

Addressing the fee competition, Valkyrie enters the race with a 0.8% fee, positioning itself among the middle range. McClurg acknowledges the initial unprofitability of ETFs, emphasizing Valkyrie’s commitment and three years of dedicated work, expressing confidence in turning a profit within the first year of trading.

In McClurg’s vision, the initial investor base is likely to comprise retail investors, financial advisors, and potential outflows from Grayscale’s fund. Despite the challenges, he remains resolute, asserting that the excitement surrounding Bitcoin ensures a sustained and thriving market for the long term. As the crypto community awaits the SEC’s decision, Valkyrie Investments stands ready for what could be a transformative moment in the crypto ETF landscape.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Other Posts

Related Posts

[tptn_list limit="8" title_length="0" heading="0" show_date="0" daily="1"]