Novogratz Predicts SEC Approval of Spot Bitcoin ETF This Year: What It Means for You

A spot bitcoin ETF could be coming as soon as this year! Crypto bull Mike Novogratz has doubled down on his prediction, suggesting the long-awaited approval by the United States Securities and Exchange Commission (SEC) is imminent. Galaxy Digital founder and CEO, Michael Novogratz, told CNBC the approval process was likely headed in the right direction, reinforcing his stance on the potential for significant market movement.

Galaxy Digital CEO and founder Mike Novogratz has rehashed his statement that the SEC will approve a spot Bitcoin ETF in 2024. Novogratz said approval of a Bitcoin ETF “is probably going to happen,” and that major players like BlackRock Inc. and Invesco will introduce broad adoption of Bitcoin to investors once approval is granted.

Michael Novogratz says he expects the US Securities and Exchange Commission will finally approve exchange-traded funds that invest directly in Bitcoin this year. This anticipated green light could open the floodgates for institutional investment, potentially driving up the price of Bitcoin and making it more accessible to everyday investors. Keep an eye on developments as the SEC deliberates, because a Novogratz-predicted Bitcoin ETF approval could reshape the cryptocurrency landscape this year!