ETFs Are HERE!! Now WHAT?! Bitcoin Price Prediction
Hey Guys,
I trust the crypto market is treating you well!
New all time highs for BTC and ETH, and the other altcoins will follow soon enough. Everything began with Bitcoin, and of course everyone's talking about these Bitcoin ETFs and the effects they've had on the crypto market.
Here's the thing though: The Proshares Bitcoin Futures ETF has no direct effect on the price of BTC...
"How can this be?" you might ask.
Well, there are actually multiple different kinds of ETFs. The ETF we have now is backed by Bitcoin futures contracts on the CME exchange, not physical BTC.
The real enchilada is the listing of a physically backed or 'spot' Bitcoin ETF, which we have yet to see approved. This is partially because regulators aren't too fond of crypto, but also because they have no idea what to expect. The Proshares ETF saw almost 1 billion dollars traded on its first day!
That's a lot of trading volume, and if the Proshares ETF had been backed by physical Bitcoin, BTC probably would have rallied even higher. That's good news for us, but bad news for regulators whose self-appointed job is to protect investors and all those fuzzy (and empty) words.
In all seriousness though, its quite clear that the SEC wants more regulations around cryptocurrency custody before they approve a spot Bitcoin ETF. They also want to see how the market will receive a futures backed Bitcoin ETF. Stuff like trading volume, who's buying, etc.
I am confident we will see a spot Bitcoin ETF soon enough, and I've found a few promising candidates which could clinch a listing. I also crunched some numbers to get a conservative estimate of just how much BTC could pump as a result.
This is a video you do not want to miss! 🚀
⛓️ 🔗 Useful Links 🔗 ⛓️
► ETFs Explained: https://www.investopedia.com/terms/e/...
► Proshares Bitcoin Futures ETF: https://www.proshares.com/funds/bito....
► CME Bitcoin Futures: https://www.cmegroup.com/markets/cryp...
► Grayscale Bitcoin Trust: https://grayscale.com/products/graysc...
► Gary Gensler Explains Bitcoin Futures ETF Approval: https://cointelegraph.com/news/sec-ch...
► SEC Extends Bitcoin ETF Deadlines: https://cointelegraph.com/news/sec-ex...
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
