Crypto:
29856
Bitcoin:
$67.848
% 2.13
BTC Dominance:
%52.9
% 0.21
Market Cap:
$2.53 T
% 1.90
Fear & Greed:
76 / 100
Bitcoin:
$ 67.848
BTC Dominance:
% 52.9
Market Cap:
$2.53 T

“If Bitcoin ETF is Approved, the Market Flies” Experts Explained!

Bitcoin ETF

The cryptocurrency community, while eagerly awaiting the US Securities and Exchange Commission’s (SEC) approval of Bitcoin spot ETF applications, an analysis of the effects of this situation on Bitcoin’s market value revealed striking results.

According to the report shared by the on-chain data platform CryptoQuant, if the SEC approves Bitcoin spot ETF applications, Bitcoin’s market value could see an increase of 150 billion dollars. Furthermore, analysts suggest that approving this could potentially increase the total market value by an impressive $900 billion through additional investments.

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Bitcoin Spot ETF: Potential Market Game-Changer

The report highlights that corporate companies initiated the 2021 bull season. Furthermore, these companies are not only aiming to add Bitcoin to their balance sheets but also striving to offer Bitcoin access to their customers. It is expected that they will achieve this by introducing spot ETFs.

According to CryptoQuant’s analysis, the asset value under the management of companies applying for a Bitcoin spot ETF is 15.6 trillion dollars. Even if these companies were to invest only 1% of their assets in Bitcoin, experts predict that such an investment could boost the BTC market value by a staggering $155 billion.

The analysis states that such large investments in Bitcoin could accelerate the entry of new money into the market and each new dollar could increase the market value by 3 to 5 dollars. This situation is believed to enhance Bitcoin’s value and popularity, bolstering the cryptocurrency ecosystem.

Another comment on the subject also came from the asset management company 3iQ. When the regulators approve the 3iQ Spot Bitcoin ETF, analysts predict that the price of Bitcoin could rise to $45,000.

If the SEC approves Bitcoin spot ETFs, experts predict a significant surge in growth and value in the cryptocurrency market. However, whether or not this will happen and the timing of the approval is not yet clear. The cryptocurrency community is closely following the developments and is eager to see the impact of Bitcoin ETF approvals on the market.


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