Bitcoin ETF on the Horizon: BTC Price Predictions
Exploring Bitcoin ETF’s Impact on BTC? Is the Hype Justified?
Signs are increasingly pointing to the fact that approval by the U.S. Securities and Exchange Commission (SEC) is imminent. The excitement has reached a fever pitch, with the listing of the iShares Bitcoin Trust on the NASDAQ clearinghouse making waves and propelling Bitcoin’s price over $35,000.
But the question remains:
Is the current enthusiasm for an impending Bitcoin Spot ETF justified?
The Long-Awaited Bitcoin Spot ETF:
The matter of a Bitcoin Spot ETF in the U.S. is not a new one. For over five years, various asset managers have attempted to file applications with the SEC, but until now, their efforts have been in vain.
The SEC’s concerns revolved around its inability to ensure the absence of Bitcoin price manipulation and the use of unregulated cryptocurrency exchanges in managing physically-backed Bitcoin Spot ETFs.
While the fundamental situation hasn’t changed much, the entry of BlackRock, the world’s largest asset manager, into the fray earlier this year has injected fresh optimism into the mix.
