In an interview with Fortune, Valkyrie co-founder and Chief Investment Officer (CIO), Steven McClurg, likened the anticipation for the expected approval of spot Bitcoin ETFs by the SEC to the theater production of "Waiting for Godot." He described the culmination of years of waiting as "almost surreal."
Valkyrie is a crypto asset management company vying for approval to sell Bitcoin ETF shares once greenlit by the SEC. Unlike entrants such as BlackRock and Fidelity who are utilizing their traditional finance reputation for early-market gains, Valkyrie believes their expertise in digital assets will give them an edge with investors.
The firm already boasts two crypto ETFs. One invests in public Bitcoin mining companies, and the other invests in Bitcoin and Ether futures contracts. Reflecting the vibrant world of crypto memes, Valkyrie selected "BRRR" as the ticker name for its Bitcoin spot ETF, paying homage to the infamous phrase referring to the constant printing of money by the Federal Reserve.
McClurg, well-versed in both the traditional finance world and the crypto realm, also shared his thoughts on the SEC and the controversy over fees for ETFs. He discussed the potential that Valkyrie's Bitcoin spot ETF might effectively start trading as early as Thursday. He theorized that at least two SEC commissioners, Mark Uyeda and Hester Peirce, and possibly Gary Gensler, were onboard with the idea.
With the likelihood of the Bitcoin ETF becoming a reality, McClurg maintains optimism, highlighting the company's readiness and dynamic positioning between the Wall Street and crypto "degens."
