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Seeking Alpha 2021-11-01 13:24:36

ETFs that directly hold Bitcoin will likely come in mid-2022, experts say

ETFs that directly hold Bitcoin will likely come in mid-2022, experts say

The market has welcomed Bitcoin Strategy ETFs such as the ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) and Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF), but when will U.S. regulators approve the first spot Bitcoin ETF that will directly hold Bitcoin (BTC-USD)? Market experts seem to be leaning towards the middle of 2022. Steven McClurg, CIO and co-founder of Valkyrie, told CNBC: "I don't think we see a Bitcoin spot ETF until at least middle of next year." Grayscale Investments, which recently announced that it's filed to convert the popular Grayscale Bitcoin Trust (OTC:GBTC) into a Bitcoin spot ETF, is also eyeing summer 2022. Grayscale Investments David LaValle, head of ETFs, stated in a MarketWatch interview that he sees the possibility of regulators approving a spot-bitcoin ETF by July 2022. Bitcoin has recently touched record highs of $67,700 after the crypto asset received a jolt from the first Bitcoin-futures ETFs hitting the market. Now Bitcoin is hovering right below the

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