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Bitcoin ETFs will drive institutional adoption in 2024 — Galaxy Digital’s Mike Novogratz

Galaxy Digital founder Mike Novogratz has told investors that 2024 will be headlined by institutional adoption of cryptocurrencies, which will be driven by the pending approval of Bitcoin (BTC) spot exchange-traded funds (ETFs).

During Galaxy Digital’s third-quarter earnings call on Nov. 9, Novogratz highlighted the firm’s belief that approving several ETFs “is now not a matter of if but when.” The fund manager filed its spot Bitcoin and Ether (ETH) ETF applications with the United States Securities and Exchange Commission in partnership with Invesco in Q3 2023.

Related: Bitcoin briefly tops $37K amid market optimism for pending spot ETF approvals

Investors’ sentiment has turned bullish in November 2023, with prominent ETF research analysts predicting the SEC will have approved 12 major Bitcoin spot ETF applications by January 2024.

“2024 literally is going to be a year of…

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