Crypto ETF Expert Echoes Cathie Wood's Opinion: Multiple Spot Bitcoin ETF Applications Will Be Approved At The Same Time
Portfolio Pulse from Khyathi Dalal
The U.S. Securities and Exchange Commission (SEC) is currently reviewing proposals for spot market Bitcoin ETFs. Crypto ETF expert Stuart Barton predicts that all applications will be approved together. There are currently 12 spot-Bitcoin ETF applications from various companies including Grayscale, 21Shares & Ark, BlackRock, Bitwise, VanEck, WisdomTree, Invesco, Galaxy, Fidelity, Valkyrie, Global X, Hashdex and Franklin. JPMorgan believes the approval is likely to happen within months.
October 24, 2023 | 6:33 pm
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POSITIVE IMPACT
Volatility Shares' 2x Bitcoin Strategy ETF (BITX) became the first leveraged crypto ETF available in the U.S. The company also submitted an Ethereum futures ETF application.
The news about the SEC reviewing spot Bitcoin ETF proposals is directly relevant to BITX as it is a Bitcoin ETF. If the SEC approves the proposals, it could potentially increase the demand for Bitcoin ETFs, positively impacting BITX.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SEC is reviewing proposals for spot market Bitcoin ETFs. If approved, this could potentially increase the demand for Bitcoin.
The news about the SEC reviewing spot Bitcoin ETF proposals is directly relevant to Bitcoin. If the SEC approves the proposals, it could potentially increase the demand for Bitcoin, positively impacting its price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100