Spot Bitcoin ETF Market Poised To Hit $100 Billion: Bloomberg.

Bloomberg predicts Spot Bitcoin ETF approval could drive market valuation to $100 billion, attracting major financial players.

Bitcoin ETF approval has now become the most anticipated

event in the cryptocurrency industry.

Meanwhile, Bloomberg Intelligence

estimates that the Spot Bitcoin ETF if

approved, will be worth approximately

$100 billion in the current market

valuation.

The fluctuation in the Bitcoin Price is evidence of what happens when such news spreads around the market.

Retail and institutional investors are all eyeing the first Bitcoin Spot ETF approval. The current decision to approve any of the filings is still under the scrutiny of the US Securities and Exchange Commission (SEC).

The current scenario however looks stable as experts have predicted that the first Bitcoin Spot ETF would go live around January.

Financial Giants Waiting for Bitcoin ETF Approval.

With the likes of BlackRock, Fidelity, and Invesco expected to enter the market, experts believe that the Bitcoin Spot ETF market may grow to $100 billion or more.

Galaxy Digital Holdings Ltd., which is working on an application with Invesco, recently hosted a call with roughly 300 investing professionals to discuss Bitcoin allocation ideas as the ETF launch approaches. Notably, Jeff Janson, a wealth adviser at Summit Wealth who manages over $550 million, is preparing for the debut and anticipates strong institutional interest once the SEC approves it.

As per experts, the upcoming ETFs will

provide a cost-effective, direct route

for investors to access pure Bitcoin,

bypassing additional expenses from

futures-based options.

Bitcoin Transaction Fees Surges Amid BTC ETF Saga.

With the recent hype in awaited Bitcoin ETF approval, Bitcoin transaction fees have surged second time within the year. According to the data by Ycharts, Bitcoin's average TXN fees spiked from $7 to $18.67 on 17 November with a 506.9% increase in a year.