Galaxy Digital CEO Mike Novogratz expressed his thoughts on the SEC's approval of Bitcoin Spot ETFs during a recent TV appearance.
The billionaire businessman, known for his optimistic views on Bitcoin, had been predicting that this moment would come for a long time.
The conversation then delved into the details of the ETF landscape, with Novogratz explaining potential differences between funds offered by a variety of organizations, including Cathie Wood's fund, Grayscale, BlackRock, and Fidelity. When asked about factors that differentiate Galaxy Digital's ETF from others, Novogratz pointed to their track record, execution, liquidity and minimized hidden fees.
The discussion then shifted to the potential impact of ETF approval on Bitcoin adoption. Novogratz expressed his belief that there will not be a single winner in the ETF race, but rather two or three winners, each with their own unique strengths.
As the conversation progressed, Novogratz touched on the expected chaos in the market due to the influx of new investors and redemptions at large institutions like Grayscale. Novogratz predicted potential volatility.
When asked about BTC's future price trajectory, Novogratz was lukewarm on short-term expectations but expressed optimism about long-term appreciation. Commenting on the ease of entry for new investors, Novogratz predicted that there would be an influx of capital into the market.
*This is not investment advice.
