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Bitcoin is on the agenda with its successive gains. The popular cryptocurrency is currently at the level of 42 thousand dollars. The performance of Bitcoin, and cryptos in general, in 2023 continues to be surprisingly good considering the challenges the sector has faced over the last 18 months.
The market value of Bitcoin, the world’s largest cryptocurrency, is approaching $1 trillion. It has increased by approximately 160 percent since November 2022. 45 percent of this growth has been recorded in the last 6 weeks as speculation regarding a spot Bitcoin ETF continues to grow.
Currently, many financial experts put the probability of the U.S. Securities and Exchange Commission (SEC) approving ETFs at 90 percent. ETF analyst James Seyffart argues that the SEC is unlikely to reject Spot Bitcoin ETFs, but a delay is a likely scenario.
Additionally, according to crypto analyst and Web3 investor Credible Crypto, BTC price is likely to continue its gains and reach the $50,000 level in the third week of December.
The analyst noted that $30 million has been added to Bitcoin ETF offerings and argued that regardless of whether the BTC price falls below $42,000, the asset could rise to $50,000.
The SEC also recently began discussions with financial services company Fidelity Investments to learn more about its spot Bitcoin exchange-traded fund (ETF) application. A Dec. 7 meeting included two representatives from Cboe BZX Exchange, six SEC staff members and nine representatives from Fidelity.
While negotiations regarding the Bitcoin ETF continue, a cryptocurrency is at the center of investors’ attention. Bitcoin ETF token attracts attention with its promise to make transaction fees free if Bitcoin exceeds 100 thousand dollars.
Additionally, investors who want to purchase Bitcoin ETF tokens can also benefit from high annual interest yield (APY) rates. Let’s take a closer look at the details of this project, which was launched inspired by the Spot Bitcoin ETF news.
Bitcoin ETF (BTCETF) – Presale Coin Attracting Attention With Its Burning Mechanism
BlackRock, one of the largest investment companies, initiated the request to establish a Bitcoin ETF, causing the value of BTC to skyrocket. Bitcoin ETF is known as a significant development as it will place Bitcoin, and perhaps over time, the rest of the crypto industry, within an institutionalized framework.
If ETF approval happens, Bitcoin’s market value could increase incredibly. Many analysts believe that BTC value can rise above $100 thousand. Thanks to the new project Bitcoin ETF token, investors will be able to make the most of the opportunities offered by Bitcoin ETF.
Bitcoin ETF token (BTCETF) is an ERC-20 project. The pre-sale of this token, whose fate depends on the pending approval of the Bitcoin ETF, has attracted significant interest in recent weeks. The project, which managed to raise $3.4 million in its pre-sale, continues to bring together investors who want to buy Bitcoin ETF tokens.
There are a total of 2.1 billion BTCETF tokens available, 40 percent of which are used during the presale. 25 percent of the tokens will cover staking rewards, and 25 percent will be burned as 5 percent at 5 milestones determined by the team. The remaining 10 percent will be used for stock market liquidity.
Bitcoin ETF’s Deflationary Roadmap
The Bitcoin ETF token’s appeal lies in its innovative deflationary tokenomics. As you can see from the tokenomics data, a quarter of the entire token pool will disappear. This will be implemented in five steps, in line with the success of the Bitcoin ETF.
Bitcoin ETF Token Burn Phases
The Bitcoin ETF Token is designed to burn 5 percent of the total token supply at each of five milestones in the development and adoption of the spot Bitcoin ETF. The milestones are:
- BTCETF reaches $100 million 24-hour transaction volume
- SEC approves first Bitcoin ETF in the US
- Launch of the first Bitcoin ETF
- Total value of Bitcoin ETF assets reaches $1 billion
- Bitcoin price exceeds 100 thousand dollars
Once these five milestones are reached, 25 percent of the total Bitcoin ETF Token supply will have been burned. Burning tokens is known as an ideal way to keep the token price high, as existing BTCETF becomes more valuable as the supply decreases.
Investors can follow all developments regarding Bitcoin ETFs on the meticulously prepared project’s website. The Bitcoin ETF website, which contains up-to-date information, deserves to be visited regularly.
The project also implements a dynamic transaction tax that decreases with each ETF milestone reached. Initially, it charges a 5 percent transaction fee for each transaction. However, this tax will be gradually reduced by 1 percent and completely eliminated when all milestones are reached.
Additionally, the Bitcoin ETF token offers a high rate of annual interest yield (APY). Since this rate will decrease as the staking pool grows, investors who want to buy Bitcoin ETF tokens can take action to avoid missing the impressive rates.
The pre-sale is still ongoing and the current price is set at $0.0066 per BTCETF token. The long-awaited approval of spot Bitcoin ETFs could increase demand for the token. That’s why early investors can already secure their tokens at this advantageous price.
Click to review Bitcoin ETF token.