Confident Prediction Valkyrie Founder Foresees Bitcoin ETF Approval on Wednesday and Trading Launch on Thursday

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Valkyrie Founder Expects Approval Date
All ETFs Approved Simultaneously
Retail Investors Enter First
Issuers Quickly Submit Updated Documents
Steven McClurg, founder of Valkyrie, one of the issuers of 13 Bitcoin spot ETFs, recently stated in an interview with the media outlet The Block that the company expects the SEC to approve its ETF application by the close of Wednesday and begin trading on Thursday morning.
Steven McClurg anticipates a capital inflow of $200 to $400 million into Valkyrie’s ETF once trading is open, with the initial inflow in the first few weeks potentially reaching as high as $40 to $50 billion.
However, Steven McClurg believes that not all of the 13 ETFs in the applications may be included in the first wave of approvals.
Furthermore, Steven McClurg emphasizes that a Bitcoin spot ETF is not like a regular ETF, as it requires two custodians, one for cryptocurrencies and another for cash, and must ensure that these two accounts are linked, meaning that the preparatory work before launch is almost double the usual.
Many analysts believe that the biggest advantage of a Bitcoin spot ETF is its ability to attract institutional investors in the United States. However, Steven McClurg suggests that retail investors may be the first group to invest funds, as institutional investors typically need time to observe new financial products before recommending them to clients.
The approval of Bitcoin spot ETFs has entered a heated phase, but this morning the SEC issued supplemental comments on the S-1 filings submitted by multiple issuers of Bitcoin spot ETFs, which some see as a potential “delay signal.”
However, issuers including ARK 21Shares, VanEck, and BlackRock quickly resubmitted amended S-1 filings. Bloomberg analyst Eric Balchunas believes that the proactive stance of the SEC and issuers indicates that both parties are eager to expedite the approval process.