Bitcoin ETFs will drive institutional adoption in 2024 - Galaxy Digital’s Mike Novogratz
Galaxy Digital founder and CEO Mike Novogratz says approving a Bitcoin spot ETF is not “a matter of if but when,” which will drive institutional investment in the sector. Galaxy Digital founder Mike Novogratz has told investors that 2024 will be headlined by institutional adoption of cryptocurrencies drive n by the pending approval of Bitcoin (BTC) spot exchange-traded funds (ETFs). During Galaxy Digital’s third-quarter earnings call on Nov. 9, Novogratz highlighted the firm’s belief that approving several ETFs “is now not a matter of if but when." The fund manager filed its spot Bitcoin and Ethereum (ETH) ETF applications with the U.S. Securities and Exchange Commission (SEC) in partnership with Invesco in Q3 2023. Related: Bitcoin briefly tops $37K amid market optimism for pending spot ETF approvals Investors' sentiment has turned bullish in Nov. 2023, with prominent ETF research analysts predicting the SEC will begin approving 12 major Bitcoin spot ETF applications by J...