One of the names who applied to establish a spot Bitcoin ETF in the USA thinks that the transactions will start this week.
Steven McClurg, co-founder of Valkyrie Investments, “We expect the SEC to enforce the ETFs by the end of the day on Wednesday, with trading to begin on Thursday morning.” said.
McClurg said he would have access to Valkyrie’s spot exchange-traded fund if trading begins this week. 200 to 400 million dollars between He thinks there may be a flow of money. This number increases when funds belonging to other issuers are counted. 4-5 billion dollars It was stated that it could come out.
There are 13 issuers awaiting SEC approval to establish ETFs. Although McClurg expects 10 of these to receive initial approval A few of them may not get approval at once. told.
According to Valkyrie CIO, if spot ETFs are approved, retail investors, financial advisors and Grayscale Bitcoin Trust (GBTC) investors will be the first to transfer money to them.