Valkyrie executive 95% confident in Wednesday spot Bitcoin ETF approval
Valkyrie CIO and co-founder Steven McClurg expects approval on Jan. 10.
A top Valkyrie executive has expressed his belief that regulators will approve a spot Bitcoin ETF on Wednesday, TechCrunch reported on Jan. 9 .
Valkyrie CIO and co-founder Steven McClurg said:
“We’ve been running hard for the last probably six weeks now on this, and it’s been quite exciting … myself and others are very confident that Wednesday it’ll get approved aftermarket with a Thursday launch to trade.”
In a separate tweet , TechCrunch author Jacquelyn Melinek said that McClurg is 95% confident of a Wednesday, Jan. 10 approval.
Valkyrie is one of approximately a dozen spot Bitcoin ETF applicants awaiting approval from the U.S. Securities and Exchange Commission (SEC).
The securities regulator is required to reach a decision on Ark Invest’s application on Jan. 10, which has led to widespread predictions of approval on that date. However, other funds have later deadlines. For example, the SEC is not required to reach a decision on BlackRock’s application until Jan. 15. The deadline for the regulator’s decision on Valkyrie’s application is unclear.
Valkyrie CIO commented on fees, markets, and more
McClurg also commented on other aspects of ETFs. According to Melinek, he acknowledged recent ‘fee wars’ through which ETF applicants have reduced fees and introduced waivers. He described issues in reducing fees to 0.2%; Valkyrie’s application currently includes a 0.49% fee and a 3-month waiver.
McClurg also told Melinek that there is a “strong possibility” that spot Ethereum and spot XRP ETFs will arrive in the future. Valkyrie previously gained approval for an Ethereum futures ETF in October . However, it is not among the current list of spot Ethereum ETF applicants, which includes BlackRock and Fidelity. There are no verified spot XRP ETF plans from any company at present.
Finally, McClurg commented on the potential market impact of spot Bitcoin ETF approvals. He said that he expects $10 billion or more to enter spot Bitcoin ETFs by the end of 2024 and up to $3 billion during the first week of trading.
He also predicted that Bitcoin will be worth $150,000 before the end of 2024, as spot Bitcoin ETFs could create a “supply shock” that drives up demand.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Is Bitcoin's Bull Run Reaching a Critical Inflection Point?
- Bitcoin faces critical juncture in late 2025 as $110,000 support tests short-term bearish pressures against long-term bullish fundamentals. - Whale selling, $438M BTC liquidations, and 0.4 ELR ratio highlight $1.5B derivatives risk if price breaks below $107,261. - Institutional demand (690,710 BTC accumulated) and 2028 halving cycle suggest potential $145,000+ rally if macro risks stabilize. - Strategic recommendations include 5-10% Bitcoin allocation via ETFs, 10-15% altcoin exposure, and monitoring UT

Avalanche (AVAX): Tactical Buy at $16 Support Level Amid Volatile Technical Setup
- Avalanche (AVAX) trades near $23.50–$24.00, with $16 support level critical for bullish/bearish outcomes amid volatile technical setup. - Bearish MACD divergence and $26.50 resistance rejections signal seller dominance, while Grayscale’s ETF application could stabilize AVAX at $16. - Historical MACD top divergence backtests show 7.89% average returns but 26.01% max drawdown, emphasizing risk management for asymmetric rewards. - Long-term fundamentals suggest AVAX could reach $71 by Q4 2025 if on-chain gr

Will Bitcoin price drop in September?
Bitcoin News Today: American Bitcoin Rebrand Aims to Reshape U.S. Mining Landscape
- Gryphon Digital Mining shareholders approved a merger with American Bitcoin, including a 5-for-1 reverse stock split effective September 2, 2025. - The split reduces shares from 82.8M to 16.6M to meet Nasdaq bid price requirements, with no shareholder action needed for automated adjustments. - The rebranded "ABTC" entity combines Gryphon's operations with Hut 8 Corp.'s mining expertise and Eric Trump's leadership under U.S.-focused branding. - This consolidation aims to enhance operational efficiency and

Trending news
MoreCrypto prices
More








