HomeBitcoinValkyrie's chief investment officer hopes to get $400 million in the first...

Valkyrie’s chief investment officer hopes to get $400 million in the first week after launching the Bitcoin ETF, according to The Block.

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Valkyrie Investments might start its Bitcoin exchange-traded fund (ETF) on Thursday if the United States Securities and Exchange Commission (SEC) approves it by the end of Wednesday. Steven McClurg, the firm’s main investor, said this.

During an interview with The Block, McClurg said that the company expects to get $200 million to $400 million in its ETF in the first week. The whole market may get up to $5 billion in the first few weeks.

McClurg said 10 new ETFs will start at the same time, but not all 13 may start right away.

If the SEC says yes, then businesses in the U. S can do what they want. For the first time, people can buy and sell Bitcoin stocks on a big stock market. This might get attention from both professional investors and regular people who want to invest. People are really excited about the new Bitcoin ETFs. Valkyrie’s ETF, which is called BRRR, is getting a lot of attention because it shows they know a lot about digital money.

In another interview with Fortune, McClurg talked about how the SEC works and how Valkyrie has been getting ready. They have been working really hard even during the holidays to make sure their application is good to go.

The SEC is likely to approve cryptocurrencies, which means that more and more people are starting to accept and use them in regular financial activities. Valkyrie’s ETF is a special investment that focuses on Bitcoin and uses a different way to do it. It wants to help people invest in Bitcoin in a new way.

Valkyrie’s ETF will charge a fee of 0. 8%, which is competitive but not the lowest among the other options. McClurg said it’s better to focus on being high-quality rather than just being cheap when it comes to storing, keeping safe, and trading Bitcoin.

The company thinks both big investors and regular people will want to invest. Regular people might invest first. Valkyrie wants to bring in people who are interested in learning about Bitcoin instead of people who just want a famous company.

The launch of spot Bitcoin ETFs makes people wonder if they go against Bitcoin’s original idea of being decentralized and not having middlemen. However, McClurg said that the ETFs give investors choices and easier access, especially for those who may not be familiar with the technical side of holding their own Bitcoin.

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