Odaily Planet Daily News Galaxy Digital CEO Mike Novogratz said that if the spot bitcoin ETF is approved, it will attract many institutions to return. In a sense, the approval of such a fund would signal government support for bitcoin, which would also make it easier for pension funds, asset managers and others to access, he said during Galaxy's second-quarter earnings call. to this space, and potentially heavily deploy funds.
In addition, Novogratz also believes that the ruling by U.S. District Judge Analisa Torres in the SEC case against Ripple is a major development that may force regulators and policymakers to take action.
He predicted the ruling could force Democrats to work more closely with Republicans to pass encryption legislation. He added: "We went from headwinds to at least no headwinds, but not to say tailwinds now." (Blockworks)