🔥👉 Chaos ETF Spot Bitcoin: SEC approval and about-face

Everything happened overnight, from the announcement of the approval of spot Bitcoin ETFs to Gansler's about-face, denouncing the hacker attack on the SEC's social networks

The crypto community now seemed ready to welcome spot Bitcoin ETFs on the evening of January 10, as many analysts had predicted, but during the night the SEC decided to bring forward the plans, announcing the launch of the new financial products via its social channels.

💥AND NO. All of this is just the umpteenth madness that one has to live in this frenetic crypto world, all of a sudden caught up in the FOMO for the announcement of the new ETFs, and a second later under the cold water of the communication from the president Gary Gansler, who announces how the SEC's social channels were hacked.

At this point, we're back to square one. The approval should however arrive in the next few hours, with the difference that the community will probably take a little more time to confirm its official status.

K33 Research, in the previous hours, had tried to predict the behavior of BTC once the new financial product was approved, considering a "sell the news" scenario now unlikely at the time of the announcement of the ETFs.

This vision is affected by the liquidations that have already taken place in recent days following the correction of BTC below 42k, which have compromised the profits made by many traders and therefore improved market conditions.

Furthermore, the commissions relating to the new ETFs would signal the intention to attract the greatest number of investors immediately, with a fight among applicants for the most convenient fees. Therefore, although volatility may increase at launch, the assumptions would still suggest a rise in BTC.

Bitwise, among the various institutions, even offers 0% fees for the first six months, and in general all the players seem to play downwards from this point of view.