Valkyrie Chief Investment Officer Steven McClurg anticipates that the US Securities and Exchange Commission will approve exchange-traded funds directly holding Bitcoin on Wednesday, and trading will begin soon afterward.
About a dozen companies have filed for spot Bitcoin ETFs, which are expected to attract new investors to crypto and billions in inflows in their first year. The cryptocurrency has jumped to a 21-month high this year on expectations approval is imminent since the SEC faces a Jan. 10 deadline to weigh in on an Ark 21 Shares application.
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