Crypto traders are holding their breath waiting for the United States Securities and Exchanges Commission to approve or reject a first bitcoin (BTC) spot exchange-traded fund — and one of the issuers, Valkyrie Investments, is anticipating a decision shortly.

“We’re expecting the SEC will deem the ETFs effective at close of business on Wednesday and the trading to begin on Thursday morning,” Valkyrie Investments co-founder and CIO Steven McClurg told The Block in an interview.

If and when trading begins on Thursday, McClurg expects $200 million to $400 million of investors’ funds coming to Valkyrie’s ETF, and all participants might see $4-5 billion of inflows over the first couple of weeks, he said.

Not all the 13 ETF applicants might make it to the finish line in the first wave, …