Bitcoin ETF

Bitcoin

Spot

James

<p style="text-align: justify">The expectation that the US Securities and Exchange Commission (<a href="https://en.coin-turk.com/twitters-new-user-limit-might-impact-cryptocurrency-markets/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC</a>) will approve a spot <a href="https://en.coin-turk.com/a-shocking-report-on-bitcoin-btc-from-an-analytical-company-changes-in-bitcoin-and-institutional-adoption/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> ETF by mid-2024 continues to excite cryptocurrency investors. Market experts are evaluating how much the price of Bitcoin (<a href="https://en.coin-turk.com/bitcoin-surpasses-26000-again-thanks-to-blackrocks-bold-move/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>) can increase, especially after the SEC gave the green light to the ETF application from BlackRock, the world’s largest asset management company.</p>
<h2 style="text-align: justify" id="matrixport-bitcoin-spot-etf-approval-could-push-prices-up-to-56-000">Matrixport: Bitcoin Spot ETF Approval Could Push Prices Up to $56,000</h2>
<p style="text-align: justify">In its recent research, crypto financial services company Matrixport stated that if SEC approves BlackRock’s spot Bitcoin ETF, the price of BTC could reach up to $42,000. Matrixport also added that with the approval of a spot Bitcoin ETF, there is a potential for $50 billion in inflows, which could push the price of Bitcoin up to $56,000.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-268149" src="https://coin-turk.com/wp-content/uploads/2023/10/Bitcoin-BTC-Spot-ETF.jpeg" alt="" width="1280" height="720"></p>
<p style="text-align: justify">Bitcoin is currently trading around $28,419 with a 0.16% increase in the last 24 hours. Matrixport’s two predictions correspond to a 47.78% and 97.05% increase in BTC, respectively.</p>
<h2 style="text-align: justify" id="pending-spot-bitcoin-etf-approvals">Pending Spot Bitcoin ETF Approvals</h2>
<p style="text-align: justify">There are currently 12 spot Bitcoin ETFs awaiting approval from the US federal regulator SEC. Among the ETF issuers awaiting approval are Grayscale, 21Shares &amp; ARK, BlackRock, Bitwise, VanEck, WisdomTree, Invesco &amp; Galaxy, Fidelity, Valkyrie, Global X, Hashdex, and Franklin.</p>
<p style="text-align: justify">Bloomberg ETF analysts Eric Balchunas and James Seyffart recently raised the probability of SEC approving at least one of the spot Bitcoin ETF applications to 90%. The increase in probability came after 21Shares &amp; ARK updated their spot Bitcoin ETF application at the request of the US SEC.</p>
<p style="text-align: justify">Analysts expect SEC to approve a spot Bitcoin ETF by January 10. The recent updates in spot Bitcoin ETF applications indicate that SEC is undergoing a constructive process for ETFs. In their update to the 21Shares &amp; ARK ETF application, they added five pages of risk disclosures, new language, and more context.</p> Continue Reading: <a href="https://en.coin-turk.com/matrixport-bitcoin-spot-etf-approval-could-push-prices-up-to-56000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/matrixport-bitcoin-spot-etf-approval-could-push-prices-up-to-56000/</a>

Matrixport: Bitcoin Spot ETF Approval Could Push Prices Up to $56,000

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