LATEST: Valkyrie Investments expects spot bitcoin ETFs to Launch On Thursday

Cryptocurrency traders are on the edge of their seats, awaiting the United States Securities and Exchange Commission’s (SEC) decision on the first Bitcoin spot exchange-traded fund (ETF). Valkyrie Investments, one of the ETF issuers, is optimistic and anticipates the SEC to greenlight the ETFs, with trading potentially commencing on Thursday. Steven McClurg, CIO of Valkyrie Investments, envisions a substantial influx of $200 million to $400 million into their ETF, and the collective inflow across the first batch of 10 ETFs could reach a staggering $4-5 billion within the initial weeks.

While not all 13 ETF applicants may launch simultaneously due to the complexity of the process, McClurg’s team has worked tirelessly to be ready. Coordinating two custodians for crypto and cash adds to the challenge. Retail investors, financial advisors, and potential outflows from Grayscale’s fund (GBTC) are expected to lead the initial investments. This pivotal moment could usher in a new era for Bitcoin as it seeks acceptance among institutional and retail investors, with the anticipated launch date set for Thursday.

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