Anthony Scaramucci Predicts Bitcoin Cash ETF Approval Next Week, Calls It An Opportunity To 'Bury The News'
Portfolio Pulse from Mehab Qureshi
Anthony Scaramucci, founder of SkyBridge Capital, predicts that a Bitcoin Cash (BCH) ETF could be approved by the SEC next week, suggesting the timing could be used to 'bury the news'. Bitcoin Cash is a cryptocurrency that forked from Bitcoin in 2017. Several firms, including BlackRock, Grayscale, Fidelity Investments, WisdomTree Inc., Ark Invest, and 21Shares, have filed for a spot Bitcoin ETF, but none have been approved. SkyBridge Capital's cryptocurrency investments, including Bitcoin, Ethereum, and Solana, have seen significant gains.
December 22, 2023 | 11:39 am
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POSITIVE IMPACT
The potential approval of a Bitcoin Cash ETF could lead to increased investor interest and liquidity for BCH, potentially driving up its price in the short term.
The anticipation of an ETF approval often leads to positive sentiment among investors, as it provides easier access and legitimacy to the asset. However, the market's reaction can be unpredictable, and regulatory decisions are uncertain.
CONFIDENCE 60
IMPORTANCE 70
RELEVANCE 80