In a significant development, the SEC launched the first exchange-traded funds (ETF) announced his approval. In this context, experts predict that this major development marks a very important moment for the digital asset industry. This move will bring corporate recognition to the world’s largest digital asset.
How Will SEC Approval Affect the Market?
The SEC’s green light came for 11 filings, including leading names such as BlackRock, Ark Investments/21Shares, Fidelity, Invesco and VanEck. Some officials and investor advocates crypto ETFDespite their previous warnings about the potential risks associated with ‘s, the SEC’s approval marks a significant shift in regulatory sentiment.
These ETFs, which have been in the works for a decade, are expected to change the fate of Bitcoin. As reported, ETFs will offer investors the opportunity to gain exposure to the crypto market without directly owning it. In this context it will potentially attract a wide range of market participants. The SEC’s decision provided a positive boost to the crypto industry.
Standard Chartered analysts estimate these ETFs could attract inflows of $50 billion to $100 billion this year alone. Other market analysts made a slightly different prediction. In this context, they predicted that there would be an inflow of around 55 billion dollars in the next five years. Such predictions underscore the significant impact these investment products are expected to have on the broader financial landscape.
Will ETFs Drive Bitcoin to a New High?
There are many factors that will affect Bitcoin’s price course in 2024. These include factors such as historical price cycles and the halving event planned to take place in April. cryptocurrency Its unit has experienced a significant price decline in 2022. It then surged a notable 150% in 2023, largely attributed to expectations around ETF developments. The crypto industry seems optimistic about a bullish year for Bitcoin.