Senior analyst Tom Dunleavy shared his prediction about what could happen if spot Bitcoin (BTC) exchange traded fund (ETF) applications made by world giants are approved.
Analyst Tom Dunleavy shared a social media post on July 5. in your post, What spot Bitcoin ETF applications can create on the cryptocurrency market on the rise And to the bull signal made statements about
Dunleavy, ETFs There is a requirement to have initial capital before being put on the market. including the world’s largest asset managers. 8 applications He stated that the owner will have to buy spot Bitcoin.
Dunleavy also noted that if eight applications, including giants BlackRock, VanEck, Bitwise and Fidelity, are approved, companies only for the initial stage 200 with 400 million dollars He argued that he could inject the asset into the cryptocurrency market.
While ETFs indicate that the amount in question will increase as they are released, this situation A serious rise in the cryptocurrency market He said it will trigger:
No ETF can go to market without initial capital, which means spot buying. I bet that if the Bitcoin ETF of these 8 institutions is approved, we will see the market buy between $200 million and $400 million in spot purchases. This amount will increase as the products are released to the market. The current assumption is that all ETFs will be approved at once. This moves the crypto market meaningfully and quickly.
In response to the analyst’s prediction, it is estimated that giant companies have already taken action and started collecting Bitcoin, despite the approval of a possible spot Bitcoin ETF. Bitcoin price since the beginning of this year 16 thousand dollars from the levels 32 thousand dollars level, which makes it even more logical that BTC may have been collected during this process.