Spot

<p>The post <a href="https://coinpedia.org/news/vaneck-advisor-gurbacs-predictions-on-spot-bitcoin-etfs/" rel="noopener noreferrer nofollow">VanEck Advisor Gurbac’s Predictions on Spot Bitcoin ETFs</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Gabor Gurbacs, the strategy advisor at VanEck and founder of PointsVille, posted on social media platform X emphasising the efforts put in for years by the applicants, issuers, regulators, market makers, and more in bringing these products to life.</p>
<h2 class="wp-block-heading" id="h-the-rise-of-bitcoin-etfs-nbsp"><strong>The Rise of Bitcoin ETFs&nbsp;</strong></h2>
<p>Gurbacs highlights the number of years it took for Bitcoin ETFs to come to reality. The joint effort of applicants, issuers, and firms have all,<a href="https://x.com/gaborgurbacs/status/1747584732605427901?s=20" rel="noopener noreferrer nofollow"> in his view,</a> exponentially increased Bitcoin accessibility by 10-50 times within a single year, onboarding traditional capital markets.</p>
<p>Given the expectation that large amounts of capital and M&amp;A activity would flow, Gurbacs <a href="https://x.com/gaborgurbacs/status/1747416039061680141?s=20" rel="noopener noreferrer nofollow">highlights </a>the certainty surrounding Bitcoin. Financial companies are keen to cash in on the Bitcoin market, allocating significant capital into hiring teams and products with high potential. Such approval opens the door to fierce competition between digital asset entities that seek to compete with giants of traditional finance.</p>
<h2 class="wp-block-heading" id="h-competition-for-market-share"><strong>Competition for Market Share</strong></h2>
<p>Gurbacs <a href="https://x.com/gaborgurbacs/status/1747420737097306375?s=20" rel="noopener noreferrer nofollow">predicts </a>competition for market share among successful digital asset entities. According to him, “The right teams with the right resources and focus will win.” Ownership of cutting-edge technologies and strategic team acquisitions will play a pivotal role, in shaping global market power dynamics.</p>
<h2 class="wp-block-heading" id="h-market-insights-nbsp"><strong>Market Insights&nbsp;</strong></h2>
<p>While Bitcoin experienced a remarkable surge last week, its price has seen a 13% decline since then. Traders are selling Bitcoins to capitalize on gains and invest in spot Bitcoin ETFs. Additionally, on-chain <a href="https://x.com/ali_charts/status/1747580480868819313?s=20" rel="noopener noreferrer nofollow">data </a>reveals a notable increase in selling activity by Bitcoin miners, offloading 10,600 BTC in the last 24 hours, valued at approximately $455.8 million.</p>
<p>The approval of Bitcoin ETFs marks a historic moment, propelling Bitcoin into mainstream financial markets. Gurbacs’ insights are reflective of the optimism surrounding institutional participation, and the emergence of powerful players in the evolving cryptocurrency landscape.&nbsp;</p>

VanEck Advisor Gurbac’s Predictions on Spot Bitcoin ETFs

Table of Contents

CoinPedia News

Other articles published on Jan 17, 2024

Kabuni celebrates “Stake a Future” launch with 10,000 Steamboat Willie-inspired NFTs

OpenAI Establishes Collective Alignment Team to Harness Public Insights for AI Development

Bitcoin Price Consolidates, Eyeing for a Breakout as ETF Hype Fades

Investor Alert: 3 Breakout Coins in 2024 You Can’t Afford to Miss

Crypto Taxation Hits Indonesian Exchanges Hard

Chainlink Integrates Circle’s CCTP For Secure Cross-Chain USDC Transfers

Join our free newsletter for daily crypto updates!