$30 trillion worth of wealth could be unlocked with the approval of Btc ETF!!!!!!!!!
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According to ETF researcher Eric Balchunas, the Bitcoin spot ETF never came this close to getting accepted and might completely alter the cryptocurrency market. A report from Bloomberg ETF expert Eric Balchunas, if a Bitcoin spot ETF has been accepted by the U.S. Securities and Exchange Commission, $30 trillion in money may suddenly become available for the Bitcoin marketSource.
How this large amount of wealth could be unlocked????????
The amount of assets expected to be under the control of financial advisers in the United States who would be open to investing in Bitcoin through a regulated exchanged or traded fund. A new surge of anticipation in the cryptocurrency market was set off by Blackrock's proposal for a Bitcoin spot ETF last month, which prompted other significant companies like ARK Investment, Valkyrie, and Fidelity to submit their individual bids for a Bitcoin ETF. According to Balchunas, being part of Blackrock, the one of the biggest in the world, raised the likelihood of a Btc spot ETF approval from 1% to 50%.
What to know about Btc ETF??????
Exchange-traded funds, or ETFs, are investments tracking the price of bitcoin through spot markets, derivatives, and or bitcoin ownership. They provide leverage to Bitcoin's price and enable people to give their money to it without wanting to deal with the headache of using a digital currency exchange. In anticipation to tremendous demand, the ProShares Bitcoin Strategy ETF opened on October 19, 2021, becoming the first Bitcoin futures ETF accessible in the US. In the first day, shares valued over $900 million were exchangedsource.
About Btc ETF application?????
Since 2017, the SEC has highlighted that applications for bitcoin ETFs must have a surveillance-sharing contract with an approved market with an important market, but firms lack clarity and an objective typical if it involves reading this. As stated by the chief investment officer at Bitwise Capital Management, incorporating an information-sharing agreement as opposed to just surveillance sharing makes sense as it stops an ETF from depending on an unregulated market. Bitwise filed several ETF applications.
Let's hope for the best as we put the BTC ETF approval to the test.
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