- January 9, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Speaking on CNBC’s ETF Edge on Jan. 9, VanEck’s CEO, Jan van Eck, said he expects the spot Bitcoin ETFs to start trading on Thursday, Jan. 11.
Additionally, Steven McClurg, the Chief Investment Officer for Valkyrie, one of the other applicants in the race, told Fortune this week that he also believes Thursday will be the launch day. He said
“We’re just in a slight holding pattern. I’m in the camp where I believe that sometime after the market closes on Wednesday, the ETFs will go effective, meaning they trade on Thursday.”
Cathie Wood from Ark Invest also told ETF Edge that the recent ETF application process was “unlike previous filings” as the SEC had asked questions of the would-be issuers instead of simply rejecting applications. She went on to say the process had been very “detailed” and “technical,” indicating that there had been much more disclosure and exploration than previous ETF attempts.
Lastly, Wood stated that,
“This told us they were getting ready. Now, can we be 100% sure there will be approval this week? No, you never say 100%, but we’re feeling really good about it.”
Following a spat of filings to the SEC on Jan. 8 and today, Jan. 9, all signs now appear to point toward approval this week. Bitcoin is up 14% since its Jan. 3 low, trading at just below $47,000 as of press time.
In a related update, Grayscale’s Chief Legal Officer posted to social media that he was “dotting some i’s and crossing some t’s.”
In response to fears that the applications could be denied at the eleventh hour, Bloomberg’s Eric Balchunas commented.
“The idea that Gary would make his Staff work countless hours with 11(!) dif issuers on two dozen massive documents each well over 100 pages long full of technical jargon through the holidays just to give him cover to deny is tin foil hat stuff in my opinion. But look, we still have 5% chance of delay/denial.”
The post Spot Bitcoin ETFs approval expected, start trading on Thursday: VanEck, Valkyrie execs appeared first on CryptoSlate.
