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 <p>Also Read: <strong>SOL Price Prediction: Bulls Poised For New Rally, Solana Strengthens Technical Outlook</strong></p>  
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 <p>Earlier, CoinGape reported that JP Morgan analysts believe the U.S. Securities and Exchange Commission (SEC) will be compelled to approve the motion for approving the Grayscale <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> into a spot ETF. However, it remains to be seen which company among the likes of Blackrock, Ark Invest, Fidelity Bitwise will grab the filing for the ETF.</p> 
 <h2 id="fresh-wave-of-bitcoin-investment">Fresh Wave Of Bitcoin Investment</h2> 
 <p>Crypto community insiders believe that an ETF approval could bring in a fresh wave of funds into the digital assets market. Lark Davis, a Bitcoin investor, said it is estimated that anywhere between $20 to $30 billion in cash could be invested in Bitcoin, as and when the ETF is approved. For a perspective, this amount could be worth about 50% of all the BTC existing in the crypto exchanges currently.</p> 
 <blockquote> 
  <p>“Estimates are that a spot Bitcoin ETF would bring 20-30 billion of fresh cash into Bitcoin. That would buy about half of all coins on exchanges at current prices.”</p>  
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 <p>The concept of ETFs backed by non-government assets had historically done well in the <a rel="noopener noreferrer nofollow" title="United States" href="https://thebittimes.com/tag/united-states.html">United States</a>. For example, the launch of SPDR Gold Trust ETF (GLD), a gold backed exchange traded fund in November 2004 turned out to be a success. After the launch of the first gold backed ETF, the value of gold had took off steadily over the years. Will the <a rel="noopener noreferrer nofollow" title="BTC price" href="https://thebittimes.com/tag/btc-price.html">BTC price</a> repeat a similar trend after the <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> is approved?</p> 
 <h2 id="btc-price-prediction">BTC Price Prediction</h2> 
 <p>Going by the estimated figures, the infusion of fresh could at least trigger a Bitcoin rally by 50% from the current range. Michael Saylor, the MicroStrategy cofounder and a Bitcoin supporter, continues to have faith in the asset as the company projected further buying of BTC, bolstering its position as the largest instituational Bitcoin holder.</p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/btc-price-prediction-if-spot-bitcoin-etf-is-approved-tbt61480.html">https://thebittimes.com/btc-price-prediction-if-spot-bitcoin-etf-is-approved-tbt61480.html</a></p>

BTC Price Prediction If Spot Bitcoin ETF Is Approved

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