The analyst stated that if spot Bitcoin ETF applications are not approved in January, one of the biggest declines in the cryptocurrency industry may occur.
While it is thought that there are only a few days left for the highly anticipated spot Bitcoin ETF approval, senior ETF analyst by Nate Geraci A noteworthy comment was made. Nate Geraci 18 December dated one in the postif spot Bitcoin exchange-traded fund applications are not approved in January next year, there will be a huge “rug pullHe wrote that it could happen:
If the Spot Bitcoin ETF is not approved in January, it could be one of the biggest rugged events in crypto history. This isn’t my main view, but I can’t completely ignore the history given here so I can’t say it will be 100% confirmed. That said, I’m sticking with my original predictions before Grayscale’s court victory.
Geraci also noted that cryptocurrency exchanges the commission tariff they apply for buying and selling transactions. drew attention.
Transactions to be made through Spot Bitcoin ETFs like 0.01% It will work with a much smaller commission cut. reminding Geraci, stock markets will also increase in the future to survive He argued that they would have to waive commission returns.
Otherwise, after spot Bitcoin ETF approval, crypto exchanges will be subject to a “of bloodbathThe experienced name expressed his expectation that stock exchanges should be used for a permanent competition. a different strategy He emphasized that it needs to improve:
Commission fees on cryptocurrency exchanges will be very expensive compared to the spot Bitcoin ETF. Individual spot Bitcoin ETF buyers and sellers will benefit from the underlying institutional trading execution and commissions. But individual crypto exchange investors… They will continue to trade only through the individual trading application and commissions. Exchanges will need to get better to compete with ETFs.
Many experienced ETF analysts, including Geraci, believe that spot Bitcoin ETF applications 90% probability in January 2024 and thinks it will be approved en masse.