How Will Bitcoin ETF Approval Affect Cryptocurrencies? Here is Bloomberg Analysts’ Forecast!

Bloomberg analysts shared their predictions about the effects a possible spot Bitcoin (BTC) ETF approval would have on cryptocurrencies.

In a news shared by Bloomberg on November 20, spot Bitcoin exchange-traded fund (ETF) What will happen if their application is approved is included. Spot Bitcoin ETF news Wall Street in the communitycrypto’s big breakthroughStating that it was launched as “”, Bloomberg analysts said that it would enter the cryptocurrency industry with the approval of the ETF. 100 billion dollars worth of money He said it could flow.

Spot Bitcoin ETF approval wealth managers And financial advisors eventually trillion dollar portfolios It was emphasized that it would push them to allocate a small portion to Bitcoin.

According to a source familiar with the matter invesco working on an application with Galaxy Digitalabout earlier this month With 300 investment experts He held a meeting about investing in Bitcoin.

Making a statement on the subject, Florida-based Summit Wealth‘s wealth advisor Jeff JansonStating that he has already held many discussions about spot Bitcoin ETF investments, he continued his statement with the following statements:

Right now I feel like we’re staring down the barrel of the SEC finally approving it. It’s my belief that once you have access to this type of wrapper, you’ll have a significant amount of enterprise-level traction.

SEC is still BlackRock And Fidelity continues to review spot Bitcoin ETF applications from trillion-dollar investment giants such as. Senior ETF analysts at Bloomberg Intelligence Eric Balchunas And James Seyffart the applications in question 90% probability at the beginning of 2024 He thinks it will be approved.

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