Mike Novogratz Says A Bitcoin ETF Will Hit The Market Before 2024

Former CEO of Goldman Sachs Group Inc. and former manager of hedge funds, Mike Novogratz, is optimistic about digital currencies and believes an exchange-traded fund (ETF) for bitcoin will be available before 2024.

At the Crypto Invest Summit in New York on Monday, Novogratz said, I think we're going to see an ETF approved in 2019. I think we're going to get one approved by the end of 2019.

Regulators may soon authorize a bitcoin ETF, as Novogratz and others have predicted. A bitcoin ETF that was developed by an exchange operator with a U.S. basis and satisfied certain requirements on transparency and liquidity would have the backing of New York's top financial regulator, who said as much last month. J Christopher Giancarlo, the head of the Commodity Futures Trading Commission (CFTC), said that he would review a proposal for a product of this kind provided it would not violate any other federal regulators' regulations and was not manipulative or deceptive.