{"id":13696,"date":"2023-10-18T18:00:18","date_gmt":"2023-10-18T18:00:18","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=13696"},"modified":"2023-10-18T18:00:21","modified_gmt":"2023-10-18T18:00:21","slug":"yeah-its-gonna-get-approved-mike-novogratz-predicts-2023-approval-for-spot-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=13696","title":{"rendered":"\u2018Yeah, it\u2019s gonna get approved\u2019: Mike Novogratz predicts 2023 approval for spot Bitcoin ETFs"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>In an Oct 18. interview, Mike Novogratz, the CEO of Galaxy Digital, expressed confidence in the impending approval of a spot Bitcoin exchange-traded fund (ETF), saying, &#8220;Yeah, it&#8217;s gonna get approved.&#8221;<\/p>\n<p>Speaking on <em>SquawkBox<\/em>, Novogratz emphasized the perceived shift in the U.S. Securities and Exchange Commission&#8217;s (SEC) stance on such ETFs. According to the CEO, significant progress has been made in the dialogue with the SEC, pointing towards an approval soon, potentially in 2023.<\/p>\n<p>Novogratz drew attention to the SEC&#8217;s recent decision not to appeal a decision in its legal battle with Grayscale, saying the decision could prove pivotal.<\/p>\n<p>He said of the ruling:<\/p>\n<p>&#8220;The judge said&#8230; you have a futures ETF, and you&#8217;re saying you can&#8217;t have a cash ETF. That makes, intellectually, zero sense. And I think that put the SEC on the back foot. And I think Gensler needs a win\u2014there&#8217;s a tremendous amount of pressure to do something that is rational. The American public wants this. BlackRock, who&#8217;s the largest asset manager in the world, is out publicly saying we&#8217;re gonna get this done&#8230; it just feels like the dialogue with the SEC is all heading in the right direction.<\/p>\n<p>The Galaxy Digital CEO suggested that the underlying shift in sentiment and the growing acceptance of Bitcoin as a credible asset by institutional players like Blackrock contribute to this optimistic outlook.<\/p>\n<p>Furthermore, Novogratz said that the public filings and comments regarding the Bitcoin ETF approval process have become more constructive, implying that the SEC&#8217;s approach to thinking about Bitcoin ETFs has fundamentally shifted.<\/p>\n<p>Despite this, Novogratz&#8217;s predictions should be taken in context. Critics argue that his vested interest in Bitcoin and its broader acceptance might influence his views. Nevertheless, a perceived momentum is building around the approval of a spot Bitcoin ETF.<\/p>\n<p>Novogratz further noted that the market would likely respond positively to any such approval, suggesting a potential surge in Bitcoin&#8217;s value. He emphasized that this potential surge is not merely speculation but is backed by the commitment of major players like BlackRock, Invesco, and Fidelity.<\/p>\n<p>The post &#8216;Yeah, it&#8217;s gonna get approved&#8217;: Mike Novogratz predicts 2023 approval for spot Bitcoin ETFs appeared first on CryptoSlate.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/mike-novogratz-on-spot-bitcoin-etfs-yeah-its-gonna-get-approved\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an Oct 18. interview, Mike Novogratz, the CEO of Galaxy Digital, expressed confidence in the impending approval of a spot Bitcoin exchange-traded fund (ETF), saying, &#8220;Yeah, it&#8217;s gonna get approved.&#8221; Speaking on SquawkBox, Novogratz emphasized the perceived shift in the U.S. Securities and Exchange Commission&#8217;s (SEC) stance on such ETFs. According to the CEO, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13697,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-13696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13696"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13696\/revisions"}],"predecessor-version":[{"id":13698,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13696\/revisions\/13698"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/13697"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}