$The Bitcoin rally is waiting for one signal before $300 billion flows!

While Bitcoin has seen an uncertain trend in recent weeks, many people believe that the next big event that will help the cryptocurrency take off is the approval of a Bitcoin spot exchange-traded fund by the Securities and Exchange Commission, the market regulator. Stocks in the United States of America.

Billions flow

In a recent video interview on the Paul Barron Network, Mark Yusko, CEO and Chief Investment Officer of Morgan Greek Capital Management, addressed this topic, sharing his expectations regarding the approval of an exchange-traded fund and its impact on the price of Bitcoin, explaining that this fund could open The way to flow $ 300 billion into the market.

Yusko has already confirmed that the BitCoy Spot ETF can provide a bridge for institutional investors to cross into the Bitcoin market with complete confidence.

“Institutional investors are cautious about the idea of ​​entering the cryptocurrency space due to regulatory and securities protection uncertainties (however) the idea of ​​an exchange-traded spot fund would provide a regulated and secure way to gain exposure to Bitcoin,” he explained .

He added that a Bitcoin exchange-traded fund would meet the requirements of institutional investors, which would allow them to allocate a portion of their portfolios to digital activity.

10 Bitcoin ETFs Offers

While 10 bids have been filed for a Bitcoin ETF, Yusko stressed the importance of the early bird advantage in getting a Bitcoin ETF approved, declaring: “The investor who arrives first will receive the vast majority of assets.”

For this reason, BlackRock ( BLK ), the world's largest asset manager, is expected to be the first, if not the only one, to be approved.

“I believe, and this is what I have said many times, that BlackRock will be the first. In fact, I have been repeating this for over a year. I would go so far as to say that it is the only company that will get approved.”

#crypto2023 $BTC