November 27, 2023
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January 10, 2024
By: Pooja
A Bitcoin Exchange-Traded Fund (ETF) is scheduled to launch on the US stock market, as announced by Valkyrie Investments co-founder Steven McClurg.
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McClurg anticipates that the Securities and Exchange Commission (SEC) will approve the spot Bitcoin ETF by the end of Wednesday.
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If approved, trading for the Bitcoin ETF is expected to begin on Thursday morning.
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The Bitcoin ETF launch coincides with the introduction of the first 10 ETFs, suggesting a significant development in the ETF space.
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The initial weeks of the ETFs' introduction are expected to witness substantial inflows, ranging from $4 billion to $5 billion.
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Valkyrie Investments, the co-founder of the Bitcoin ETF, plays a pivotal role in bringing this financial instrument to the US market.
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The introduction of a Bitcoin ETF is poised to have a notable impact on the cryptocurrency market and could potentially attract significant investor interest and capital.