Market analysts continue to speculate on how the spot Bitcoin exchange-traded fund (ETF) could impact the market.
According to Dan Morehead, managing partner at Pantera Capital, the approval of spot Bitcoin exchange-traded funds would put the market ahead of the Chicago Mercantile Exchange launching cryptocurrency futures in 2017 or Coinbase going public in 2021. will affect much more.
Past developments significant impact on the demand for cryptocurrencies Morehead, who thinks that these are not“Buy when you hear the gossip, sell when you hear the news.” He says there are news about the breed.
Stating that an ETF to be established by BlackRock is not like the others, Morehead said that it will “fundamentally change the access opportunities to Bitcoin (and) will have a huge impact.”
The rise in Bitcoin price in the last two months In anticipation of ETF JPMorgan analysts, who think they are related, share similar views.
JPMorgan analysts also say ETFs are may create competition he thinks. Stating that new investors may prefer ETFs instead of cryptocurrency exchanges such as Coinbase, the JPMorgan team said, “We see ETFs as a threat to Coinbase in the medium term.” shared his note.