It’s a matter of hours till SEC approves the launch of spot Bitcoin ETF

World’s biggest asset managers all want to launch spot Bitcoin Exchange Traded Fund.

There are 13 applications:

- Grayscale Investments

- Ark Invest

- 21Shares

- BlackRock

- Bitwise

- VanEck

- Wisdom Tree

- Invesco

- Fidelity

- Valkyrie

- Global X

- Hashdex

- Franklin Templeton

- Pando Asset Management

Here’s what you can expect when the regulator approves the launch:

1. Mainstream media will make a lot of noise about the approval and everyday people will be bombarded with information

2. Crypto markets will be extremely volatile and illiquid

3. Speculating in Bitcoin will be destroy your trading account because people are very bad at trading the news 🤷‍♂️

4. There likely won’t be a massive price increase - I expect Bitcoin to whip up to $50’000 - and it will take time for liquidity to come into the markets

5. $40 billion of liquidity will flow in the spot Bitcoin ETF over a period of 3 years (h/t to Galaxy for reseach)

Brace yourself because the biggest bull market 📈 is coming and it’s going to be an amazing 2024 for the whole crypto industry.

#spot #etf #bitcoin #sec #approval