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Spot Bitcoin ETFs Could Begin Trading as Soon as Thursday

Key Takeaways

Two CEOs of spot Bitcoin ETF applicants VanEck and Valkyrie expect their ETFs to receive approval from the SEC and begin trading as soon as this week.

SEC Chairman Gary Gensler has warned investors about the risks of cryptocurrencies but some interpret these statements as a sign of imminent ETF approvals.

A “golden cross” has occurred in the crypto market, indicating a potential bullish trend.

Lower proposed management fees from ETF applicants signal competition and possible approval.

Two CEOs Predict Imminent ETF Approval

The CEOs of VanEck and Valkyrie, two companies that have filed to launch spot Bitcoin ETFs, expect their products to gain approval and begin trading as soon as this week.

In a CNBC interview, VanEck CEO Jan van Eck indicated their spot Bitcoin ETF could start trading on Thursday morning. Valkyrie co-founder Steven McClurg expects the SEC to deem the ETFs effective by Wednesday, allowing trading to begin the next day.

SEC Chairman Warns of Crypto Risks

SEC Chairman Gary Gensler published posts on Twitter and investor.gov warning of risks involved with crypto assets and advising caution.

While Gensler’s posts cautioned investors, some interpreted them as hints towards potential spot Bitcoin ETF approvals.

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