US banking giant JPMorgan (JPM) has suggested that a forthcoming spot Bitcoin ETF approval by the SEC will not be as groundbreaking as expected.
In a research report JPM published on July 6, US Securities and Exchange Commission (SEC) by a future spot Bitcoin exchange-traded fund (ETF) approval by the cryptocurrency ecosystem. expected like a a groundbreaking development won’t be He claimed.
The banking giant has hit the market on its spot Bitcoin ETF. optimism asserted by the SEC that this situation prevails your worries in the last applications taken up stated that it was due to SEC in past filings for spot Bitcoin ETF disapproval as the main reason for market manipulation asset companies, which have shown a large amount of money and have recently sent requests again, are at this point. in various information had been found.
However, JPM said that even if the ETF applications are approved, this development is beneficial for Bitcoin. will not make any significant difference. argued. at this point Nikolaos Panigirtzoglou led by JPM analysts, Canada and various European countries already in non-US jurisdictions such as spot Bitcoin ETF products are traded, but investor interest expectations did not meet asserting their thesis supported it. In addition, Bitcoin funds 2021 of the year from the second quarter since quite a few was among the points that analysts mentioned.
Additionally, the report compares spot ETFs to forward ETFs. various advantages and investor interest real time as a reflection More succesfull was stated. Also if spot Bitcoin ETFs are approved futures of liquidity From the Bitcoin ETF market spot towards the market will flow expressed.
Wall Street giant Bernstein In a research report published by the SEC, the SEC’s spot Bitcoin ETFs give consent the possibility of high had stated that.