BlackRock Insiders Say Bitcoin ETF Likely 6 Months Away: Novogratz
"We will fight like cats and dogs for market share" once Bitcoin ETFs are approved, said Galaxy Digital CEO Mike Novogratz shareholders.
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The first US Bitcoin (BTC) exchange-traded fund (ETF) could be approved before February 2024, according to Galaxy Digital CEO Mike Novogratz, citing BlackRock and Invesco sources.
"It's a big, big deal. It's a big deal because our two contacts, on the Invesco side and on the BlackRock side, make you think it's a matter of when, not when. if – that the outer window is probably six months,” Novogratz told shareholders during Galaxy’s Aug. 8 second-quarter earnings call, which reported a net loss of $46 million.
"It's probably [...] four to six months if you were to put a 'pin the tail on the donkey' on it, that the SEC is going to approve a Bitcoin ETF."
Novogratz's Galaxy Digital is one of many contenders for a spot Bitcoin ETF, which it reapplyed for in June in conjunction with $1.5 trillion asset manager Invesco, the fourth-largest large issuer of ETFs in the United States.
Internal "contacts" at BlackRock and Invesco say Bitcoin ETF approval is a matter of "when, not if" likely in 'four to six months'" - Galaxy CEO Mike Novogratz on the earnings call this morning pic.twitter.com/TIhHC7xnHI
— Eric Balchunas (@EricBalchunas) August 8, 2023Speaking to shareholders, Novogratz said it...
"We will fight like cats and dogs for market share" once Bitcoin ETFs are approved, said Galaxy Digital CEO Mike Novogratz shareholders.
News
Join us on social networks
The first US Bitcoin (BTC) exchange-traded fund (ETF) could be approved before February 2024, according to Galaxy Digital CEO Mike Novogratz, citing BlackRock and Invesco sources.
"It's a big, big deal. It's a big deal because our two contacts, on the Invesco side and on the BlackRock side, make you think it's a matter of when, not when. if – that the outer window is probably six months,” Novogratz told shareholders during Galaxy’s Aug. 8 second-quarter earnings call, which reported a net loss of $46 million.
"It's probably [...] four to six months if you were to put a 'pin the tail on the donkey' on it, that the SEC is going to approve a Bitcoin ETF."
Novogratz's Galaxy Digital is one of many contenders for a spot Bitcoin ETF, which it reapplyed for in June in conjunction with $1.5 trillion asset manager Invesco, the fourth-largest large issuer of ETFs in the United States.
Internal "contacts" at BlackRock and Invesco say Bitcoin ETF approval is a matter of "when, not if" likely in 'four to six months'" - Galaxy CEO Mike Novogratz on the earnings call this morning pic.twitter.com/TIhHC7xnHI
— Eric Balchunas (@EricBalchunas) August 8, 2023Speaking to shareholders, Novogratz said it...
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