Financial Advisors Keen For Spot Bitcoin ETFs, Awaiting SEC Green Light, Says Ric Edelman
Portfolio Pulse from Benzinga Neuro
Ric Edelman, founder of Edelman Financial Services, expressed that financial advisors are eager to offer spot bitcoin ETFs to their clients, pending SEC approval. A survey indicated that 77% of advisors are ready to include spot Bitcoin ETFs in their clients' portfolios, and 47% already hold Bitcoin. Bloomberg ETF analyst Eric Balchunas gave a 90% chance of SEC approval for spot bitcoin ETFs by Jan. 10. Bitcoin's price recently surpassed $40,000, partly due to anticipation of SEC approval for a Bitcoin Spot ETF.
December 04, 2023 | 7:03 am
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Financial advisors are poised to adopt spot bitcoin ETFs, with a high likelihood of SEC approval. Bitcoin's price has already reacted positively, crossing $40,000.
The anticipation of SEC approval for spot bitcoin ETFs has created a positive sentiment among financial advisors and investors, which is likely to increase demand for Bitcoin. This, coupled with the recent price surge past $40,000, suggests a bullish short-term impact on Bitcoin's price.
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IMPORTANCE 90
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