Optimism grows around the approval of the first Bitcoin Spot ETF in the US

In recent times, the cryptocurrency space has been buzzing with expectations of a Bitcoin bull run. Investors’ eyes turn to the United States, where the approval of the first spot Bitcoin ETF (exchange-traded fund) is eagerly awaited. This news, if confirmed, could mark a game changer for many institutional investors who want a slice of the crypto world.

The person who added fuel to this fire of expectations was the renowned cryptocurrency analyst, “Crypto Rover”. According to its recent analysis, the first Bitcoin Spot ETF could see the light of day in less than 75 days. And the most interesting thing: the bet is that Ark Invest’s ETF may not be the one chosen by the US Securities and Exchange Commission (SEC), but rather that of BlackRock.

Within 75 days the first #Bitcoin Spot ETF will be launched.

And here is why:

In exactly 75 days, the final deadline for Ark Invest’s Bitcoin Spot ETF will arrive.

The reality is, that the SEC cannot reject Ark’s ETF and then approve BlackRock’s Spot ETF.

Considering that… pic.twitter.com/iUwzGCO9DE

— Crypto Rover (@rovercrc) October 27, 2023

Many may wonder: Why so much fuss around a Bitcoin Spot ETF? The answer lies in the ease and security it can offer. By opting for this type of investment, investors are able to expose themselves to Bitcoin price variations without the need to directly own the digital currency. This brings practicality and regulatory oversight, making the investment more attractive and less complicated for those less familiar with cryptocurrency custody.

However, the SEC has its own timings and considerations. Historically, the institution has shown prudence when it comes to financial products linked to cryptocurrencies, showing concern about protecting investors and potential market manipulations. However, with the growing popularity of cryptocurrencies and the demand for regulated investment options, many believe that the balance could tip towards a positive outcome.

The crypto industry, experts and investors of all sizes are keeping their antennas tuned to the SEC and its decision regarding the Bitcoin Spot ETF. Its approval could trigger a beneficial domino effect for Bitcoin, including the expansion of market liquidity, the consolidation of the cryptocurrency in the portfolios of large investors and even an increase in market value.

As the clock ticks, the crypto community remains in anticipation. At the time of publication, the price of BTC was quoted at US$33,896.97, down 0.6% in the last 24 hours.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.