Bitcoin

Spot

As the cryptocurrency market continues to heat up, institutional adoption of Bitcoin has been cited as one of the driving forces behind the recent rise.
Many analysts predict that the first U.S.-listed spot exchange-traded fund (ETF) for Bitcoin is just weeks away.
Bakkt Chief Product Officer Daniel O'Prey revealed in a recent interview that the company is reinvesting on the institutional side amid BTC ETF speculation.
He stated that there was a recovery in the individual investor market in the last quarter due to the impact of Bitcoin price and speculation. O'Prey believes the return and increased comfort levels of institutional investors, along with the potential for spot ETFs, could unlock the market for investors who might not otherwise gain access through a regulated, highly liquid, publicly traded securities vehicle:
<blockquote>
 “Many different types of companies will be able to bring much more capital into this space as the infrastructure matures and becomes ready for institutions to adopt in a meaningful way. These will really increase over the next year.”
</blockquote>
While many analysts believe the SEC will approve a spot BTC ETF in early January, O'Prey was more reserved in his perspective, saying, “Predictions are misleading, but I think it will happen at some point next year.”
Related News: <a href="https://en.bitcoinsistemi.com/tom-lee-who-accurately-predicted-the-2023-rally-shares-bitcoin-predictions-for-the-new-year/" target="_blank" rel="noopener noreferrer nofollow">Tom Lee, Who Accurately Predicted the 2023 Rally, Shares Bitcoin Predictions for the New Year</a>
<h2 id="o-prey-spot-etf-approval-and-halving-in-bitcoin-could-be-a-sell-the-news-event">O'Prey: “Spot ETF Approval and Halving in Bitcoin Could Be a 'Sell the News' Event”</h2>
He also commented on the potential impact of the spot ETF launch, claiming that there will be a huge increase in the months following the launch and people will be taking profits. But he said he was confident that in the medium to long term, “this will have an overall positive impact.”
O'Prey also mentioned the Bitcoin halving as a “known and predicted” development that could be a “sell the news” event:
<blockquote>
 “I'm sure there will be a lot of volatility just because of the amount of capital and the halving finally happening, but in the medium term, it will almost certainly lead to growth and more demand.”
</blockquote>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/institutional-analyst-predicts-bitcoin-price-reaction-after-spot-etf-approval-and-halving/" rel="noopener noreferrer nofollow">Institutional Analyst Predicts Bitcoin Price Reaction After Spot ETF Approval and Halving</a>

Institutional Analyst Predicts Bitcoin Price Reaction After Spot ETF Approval and Halving

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