EXCLUSIVE: Crypto Industry Insider Predicts Bitcoin Spot ETF In Early 2024 — Why It's 'Not Entirely Priced In'
Portfolio Pulse from Tanzeel Akhtar
At the Benzinga Future Of Digital Assets event, Brett Harrison, former president of FTX US, predicted a Bitcoin spot ETF could be approved in 2024. He believes the potential of cryptocurrency has not been fully realized and that the approval of a Bitcoin ETF is not entirely priced into the market. Harrison also speculated on the growth of the derivatives market and the impact of an ETF on spot cryptocurrency volumes, suggesting that authorized participants would need to trade the spot to maintain arbitrage opportunities between the spot market and the ETF.
November 14, 2023 | 5:02 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Brett Harrison's prediction of a Bitcoin spot ETF approval in 2024 could lead to increased anticipation and speculative trading in Bitcoin, potentially affecting its price.
The prediction of a Bitcoin spot ETF by a former FTX US president may lead to increased investor anticipation, which could drive up Bitcoin's price in the short term as the market has not fully priced in this possibility.
CONFIDENCE 60
IMPORTANCE 70
RELEVANCE 80