Bitcoin ETF

Galaxy

Bitcoin

Spot

<p>The post <a href="https://coinpedia.org/news/spot-bitcoin-etf-market-could-reach-100-billion-bloomberg-predicts/">Spot Bitcoin ETF Market Could Reach $100 Billion: Bloomberg</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a potential game-changer for the cryptocurrency world, <a href="https://coinpedia.org/news/the-road-to-bitcoin-etf-approval-challenges-and-solutions-by-bitgos-mike-belshe/">Bitcoin exchange-traded funds (ETFs)</a> might soon make their mark on Wall Street. </p> 
<p><a href="https://www.bloomberg.com/news/articles/2023-11-20/spot-bitcoin-btc-etf-approval-seen-driving-money-managers-to-crypto?utm_medium=social&amp;utm_content=crypto&amp;utm_source=twitter&amp;utm_campaign=">Bloomberg Intelligence</a> suggests that a Bitcoin spot ETF could create a whopping $100 billion industry. This has caught the attention of big financial players like BlackRock, Fidelity, and Invesco, all eagerly awaiting approval from the <a href="https://coinpedia.org/news/secs-cautious-approach-leads-to-further-delays-in-bitcoin-etf-approvals/">Securities and Exchange Commission (SEC)</a>.</p> 
<h2 class="wp-block-heading" id="h-building-momentum">Building Momentum</h2> 
<p>A recent conference call, led by <a href="https://coinpedia.org/news/galaxy-digital-predicts-74-1-surge-in-bitcoin-price-following-etf-launch/">Galaxy Digital</a> in partnership with Invesco, drew in 300 investment professionals. The topic? Getting ready for the launch of a Bitcoin spot ETF, a move that could reshape the digital currency scene. </p> 
<p>The excitement is fueled by the belief that soon, wealth managers and financial advisors might start putting a bit of their trillion-dollar portfolios into Bitcoin.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/btc-price-might-hit-81k-amidst-bitcoin-etf-approval-predicts-coinshare-research-head/">BTC Price Might Hit $81K Amidst Bitcoin ETF Approval – Predicts Coinshare Research Head</a></p> 
<h4 class="wp-block-heading" id="h-long-awaited-breakthrough">Long-Awaited Breakthrough?</h4> 
<p>After facing rejections for years, there’s newfound optimism that the SEC might finally give the green light to Bitcoin ETFs. If this happens, likely by mid-January or next month, these funds could operate efficiently with the tax benefits and cost-effectiveness of ETFs. This could be a turning point for crypto, especially after the industry faced a setback with the FTX collapse.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-etfs-in-the-spotlight">Bitcoin ETFs in the Spotlight</h2> 
<p>Following the FTX incident, interest in crypto took a hit, but the potential launch of Bitcoin ETFs could bring back the excitement. Financial advisors like Jeff Janson from Summit Wealth, managing $550 million, and Chuck Cumello at Essex Financial are already fielding questions about Bitcoin ETFs. </p> 
<p>These products, with ticker names like IBTC and BTCO, are expected to attract both advisory markets and high-net-worth individuals.</p> 
<h2 class="wp-block-heading" id="h-enthusiastic-or-cautious">Enthusiastic or Cautious? </h2> 
<p>Despite the excitement, there’s still a sense of caution. Traditional investments are looking more attractive due to recent stock market surges. Yet, advocates like Coinbase argue that Bitcoin ETFs could bring much-needed stability to the crypto world, offering transparency and liquidity that could open up new opportunities for lending and derivatives trading. </p> 
<p>Read More: <a href="https://coinpedia.org/news/impact-of-a-potential-spot-bitcoin-etf-approval-on-crypto-market-heres-what-traders-can-expect/">Bitcoin ETF Approval Could Bring Crypto to 401(k) Plans, Says Horowitz</a></p> 
<p>The crypto community eagerly awaits what could be a new era on Wall Street.</p>

Spot Bitcoin ETF Market Could Reach $100 Billion: Bloomberg

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