CBOE Digital president John Palmer believes that if spot Bitcoin exchange-traded fund (ETF) applications are approved, a new wave of institutional investors will flood into the market.
In an interview with Bloomberg TV on January 2, John Palmer said that the spot Bitcoin ETF approval will affect the cryptocurrency market. A new influx of institutional investors He stated that he would start it.
Among these investors US giant pension funds The experienced name stated that it will also happen, thanks to the ETF approval. individual investors He also argued that he would start to have more trust in Bitcoin.
The approval will pave the way for pension funds and RIA-based funds to invest in assets in a spot Bitcoin ETF. It will still be difficult to decide what the investor distribution will be. But retail will also be looking for this.
US Securities and Exchange Commission (SEC) January 15 It is expected to approve spot Bitcoin ETF applications en masse by . Leading pension funds have already started their preparations to invest in Bitcoin. Advisors Preferred Trust, the investment fund manager that recently took action, increased the fund limit to 15% to invest in Bitcoin through ETFs.
According to CoinGecko data, in the last 24 hours 1.2% Bitcoin losing value at the time of writing from $45,275 is being traded.