According to analysis by Matrixport, investors think that the spot Bitcoin ETF may be approved very soon.
According to the research report of cryptocurrency service provider Matrixport, Bitcoin gained 25% in value over the past month and the price especially during US trading hours showed an increase.
Markus Thielen, Matrixport’s research manager, said: “an important development” He said it was and “This shows that institutions and investors in the US are accepting the news that a spot Bitcoin exchange-traded fund (ETF) will soon list in the US.” said.
According to the report, there was a 99% increase in volume with 92 billion dollars of transactions being made throughout the market. Bitcoin continues its dominance over other cryptocurrencies with a market dominance of 53%.
There are currently 12 ETF applications awaiting SEC approval. If these are approved, investors will be able to invest in Bitcoin in a regulated environment without purchasing Bitcoin itself. Analysts think that if ETFs are approved, large amounts of funds could enter the cryptocurrency market.
Worldwide according to Matrixport numbers 420-440 million cryptocurrency holders is available. It is estimated that 260 million of these are in Asia, 54 million in North America, 38 million in Africa, 31 million in South America and 1.5 million in Oceania. According to Matrixport, although the largest number of investors are in Asia “The purchasing power of investors and institutions in the USA is many times greater.”