Valkyrie’s Chief Investment Officer (CIO), Steven McClurg, said that the much-hyped spot Bitcoin ETF could be approved as early as the end of November.
While speaking to ETF.com, McClurg stated that he expects the U.S. SEC to send a second request for comments on various spot Bitcoin ETFs in the coming weeks. He said that the regulator would approve the necessary 19b-4 filings after new requests.
Valkyrie submitted its amended application for a Bitcoin ETF earlier this week, which the company is hoping to be approved in the near future.
McClurg added that the approval timeline, which aims to launch in February next year, requires the SEC to ask for more details in the S-1 filing before the launch.
“Before anything else happens, we get a second round of comments, and I believe we’ll probably get those comments in the next one to three weeks,” said McClurg in an interview.
The SEC chair, Gary Gensler, has previously said that the agency is reviewing 8–10 spot BTC ETF applications, which include filings from leading asset managers BlackRock and VanEck as well.