During an interview on Bloomberg TV on July 12th, the founder of cryptocurrency investment firm Galaxy Digital spoke about multiple Bitcoin ETF filings with the Securities and Exchange Commission (SEC), including a filing from the $10 trillion asset management company BlackRock.
Novogratz further stated that many people are “anxious” about investing in cryptocurrencies, and the approval of a Bitcoin ETF would be a “simple first step” for most people to start investing in the asset.
Novogratz explained that there is a “massive infrastructure” in place for ETFs. Alongside BlackRock, proposed ETFs from Valkyrie, Invesco, VanEck, WisdomTree, Fidelity, and a joint fund from ARK Invest and 21Shares are also in line for approval. Novogratz believes that many of these have a good chance of being approved.
Novogratz dodged the question when asked about his thoughts on whether the Galaxy and Invesco Bitcoin ETFs could be listed by the end of this year or not.
Novogratz predicts that the price of Bitcoin will end the year on a high note. He said, “If it really gets through, we have a nice step forward.”