Last June, the world’s largest asset manager BlackRockSpot Bitcoin ETF application frenzy started by BTC And in altcoins It led to a significant rally.
SECup to the present spot Bitcoin ETF Although it has not made a decision on its applications, investors and the market think spot ETFs have a high chance of being approved.
At this point, analysts state that the approval of spot ETFs is high and believe that a possible approval will be a significant catalyst for the BTC rally.
Some analysts think that a possible approval of spot Bitcoin ETFs is partially priced in.
One of them is David Duong, president of Coinbase Institutional happened.
According to Coindesk, David Duong argued in his latest report that the highly anticipated spot Bitcoin ETF approval was partially priced.
David Duong noted that BTC is outperforming other cryptocurrencies in part as investors price in the potential approval of spot Bitcoin ETFs.
“The difference in the performance of Bitcoin and other tokens suggests that the potential approval of one or more spot Bitcoin ETFs is partially priced in.
At this point, it remains unclear how much better Bitcoin will perform than other cryptocurrencies in the event of a favorable U.S. Securities and Exchange market following the SEC’s possible approval of spot ETFs.
Duong stated in the report that BTC may see a short-term decline in its dominance in the market following the possible spot ETF approval. Duong said that these views were based on the period after the forward Bitcoin ETF approval, which was approved in October 2021, and warned that the inflows to the eagerly awaited spot ETFs may spread over time.
*This is not investment advice.
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