Galaxy Digital CEO: Bitcoin ETF Approval May Accelerate Cryptocurrency Adoption
Bitcoin ETF approval could accelerate cryptocurrency adoption as the U.S. national debt rises and bitcoin halves, says Galaxy Digital CEO Mike Novogratz. Despite Bitcoin's price retreat, Novogratz believes regulatory approval opens up access to a massive $80 trillion in U.S. wealth. Cryptocurrency ETFs have attracted $11 billion in inflows, with Galaxy's ETF with Invesco managing $383 million in assets on Monday.The SEC is set to rule on ethereum ETFs in May, while Galaxy Digital is still waiting for SEC listing approval.Novogratz said the industry is set to grow significantly in size over the next year.
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