Galaxy Digital CEO Foresees Spot Bitcoin ETF Approval in 2023

19 Oct 2023

Galaxy Digital CEO Mike Novogratz expects a spot bitcoin exchange-traded fund (ETF) to be approved in 2023. “It’s going to get approved, we think it happens this year,” the American investor said on Wednesday, reports. 

“It’s going to get approved, we think it happens this year in 2023,” Novogratz remarked. He added that all the indications point to it happening this year. The Galaxy CEO further cited public commentary and filings noting that “people’s comments are much more constructive.”

He believes that current events indicate approval is imminent. His statements come after Blackrock CEO Larry Fink described the recent surge, following false ETF approval rumors, as a “flight to quality.” Novogratz highlighted Blackrock’s comments, emphasizing that interest from the world’s largest fund manager is a positive indicator. He also stressed, “The public wants this.” Novogratz’s statements follow Fidelity amending its spot bitcoin ETF filing on October 17.