Bitcoin ETF

Bitcoin

Impact

Spot

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<ul>
 <li>As rumors of spot ETFs spread in October, the price rose from below $27,000 to over $37,000 by November 10.</li>
 <li>In the latest report from Coinbase, it is stated that the final regulatory approval of a Bitcoin ETF would create a significant opportunity for the wealth management community, which manages one-third of the entire wealth in the U.S.</li>
 <li>David Duong, Coinbase’s Head of Institutional Research, said, ‘The opportunity could be much larger than just providing new access to the crypto market.’</li>
</ul>
<p><strong>Coinbase evaluates the importance of spot Bitcoin ETFs and the effects they will create in its latest report: Are billions coming?</strong></p>
<h2 id="strong-coinbase-examines-the-effects-of-spot-bitcoin-etfs-strong"><strong>Coinbase Examines the Effects of Spot Bitcoin ETFs</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126523" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-26.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>The possibility of a regulated spot Bitcoin ETF has driven crypto investors into a frenzy. It is expected that an ETF product will target millions of investors in regulated broker-dealer accounts. Since March, Bitcoin (BTC) has traded in a range with a support level of $25,000 and a resistance level of $30,000. As rumors of spot ETFs spread in October, the price rose from below $27,000 to over $37,000 by November 10.</p>
<p>Meanwhile, investors have added $366 billion to the total crypto market value since October. Coinbase says a Bitcoin ETF could add tens of billions more but notes that ‘it will take time.’ In its latest report, Coinbase stated that the final regulatory approval of a Bitcoin ETF would create a significant opportunity for the wealth management community, which manages one-third of the entire wealth in the U.S.</p>
<p>The San Francisco-based crypto exchange suggests that the opportunity targets an undiscovered market for the unique advantages of Bitcoin as an independent asset class: ‘These are participants who will not independently buy Bitcoin but rely on ETFs to create unique investment strategies.’</p>
<p>David Duong, Coinbase’s Head of Institutional Research, said, ‘The opportunity could be much larger than just providing new access to the crypto market.’ The argument is that the entry of a new participant class will enhance Bitcoin markets with new intelligence and perspectives:</p>
<blockquote>
 <p>‘ETFs will facilitate large money managers and institutions to buy and hold Bitcoin, which will increase liquidity and price discovery for all market participants.’</p>
</blockquote>
<p>Additionally, the report notes that a Bitcoin ETF would allow savers in regulated money management accounts to access Bitcoin-based credit, futures, and options products.</p>
<h2 id="strong-waiting-for-the-sec-s-decision-strong"><strong>Waiting for the SEC’s Decision</strong></h2>
<p>It is uncertain when the SEC will approve a specific Bitcoin ETF application. The Securities and Exchange Commission’s stance on cryptocurrencies seems to be softening, possibly due to a series of court victories that the crypto industry has won against the strong SEC. This includes Grayscale, a crypto hedge fund, essentially securing jurisdiction for SEC approval of a spot ETF.</p>
<p>JP Morgan expects the commission to approve an ETF by January 10. However, if the SEC takes a tough stance and starts rejecting ETF applications by that date, many members of the crypto community expect the price of Bitcoin to fall below $30,000 or even below $25,000.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/coinbase-report-how-will-spot-bitcoin-etfs-impact-the-market/">Coinbase Report: How Will Spot Bitcoin ETFs Impact the Market?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
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Coinbase Report: How Will Spot Bitcoin ETFs Impact the Market?

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