Impending Spot Bitcoin ETF Approval: A Game-Changer or Potential Pitfall?
- Analysts foresee an institutional demand surge for Bitcoin, potentially causing scarcity of Bitcoin supply if the ETF gains approval.
- Industry insiders, including Valkyrie CEO Leah Wald, caution against acquiring the entire decentralized Bitcoin supply.
- Debate arises over whether a U.S. Bitcoin ETF approval will significantly impact markets, raising uncertainties.
Fox Business correspondent Charles Gasprino has commented on the @SECGov's decision regarding the $BTC "spot" ETF, stating that it is expected to be released "hopefully next week". As the crypto community awaits the SEC decision on the spot Bitcoin ETF, expected within the next week, there still remains uncertainty about its potential ramifications.
The much-awaited approval of a spot Bitcoin exchange-traded fund (ETF) in the United States has earlier been pushed to January by the SEC. Analysts project that the approval could prompt a surge in demand from institutional investors, potentially causing a substantial reduction in available Bitcoin supply.
However, industry insiders caution that securing a vast amount of Bitcoin may prove challenging. Valkyrie CEO Leah Wald commented that it is not practical to acquire the entire circulating supply, pointing out that Bitcoin's decentralized nature and the reluctance of many holders to sell at any price act as natural barriers against monopolization.
Read full article at CryptoTale.