United

Bitcoin

Terra

Spot

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 <li style="font-weight: 400;">After a 12-month-long delay, Europe is set to launch its first Bitcoin Spot Exchange Traded Fund (ETF) this July.&nbsp;</li> 
 <li style="font-weight: 400;">While the demand for a Bitcoin ETF is significantly high at the moment, regulatory bodies are yet to green-light a handful of applications.</li> 
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 While market players in the United States remain conflicted on what the coming months might present, Europe is taking a major step to launch what could become a game-changing Bitcoin Spot ETF for cryptocurrency investors and traders in the European region. 
 The Spot Bitcoin ETF, which is soon to go live, after more than a year since its proposal, was proposed by Jacobi Asset Management and was approved in 2021. The asset management initially announced that the ETF was to go live in July 2022. However, the collapse of <a href="https://www.crypto-news-flash.com/terra-luna-classic-empowers-community-with-community-owned-wallet-initiative-lunc-price-surges/" rel="noopener noreferrer nofollow">Terra Luna</a> and crypto exchange FTX influenced the firm’s decision to make significant changes to the launch date, as “the time wasn’t right.” 
 The ETF is now reportedly on track to launch this July, as the asset manager revealed that “demand has shifted since last summer”. 
 It is important to not confuse the Bitcoin Spot ETF for a Bitcoin exchange-traded notes (ETNs), as many seem to assume that the asset manager is launching the latter. While ETNs investors own debt security, ETF shareholders get a portion of the fund’s shares. 
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 “There has been so much misinformation and misuse of the term ETF by [ETN] issuers, presumably to obfuscate the risks that are inherent in acquiring and investing in ETNs,” the asset manager clarified. 
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 <h3 id="will-europe-s-bitcoin-spot-etf-launch-boost-the-price-of-bitcoin">Will Europe’s Bitcoin Spot ETF launch boost the price of Bitcoin?</h3> 
 With the demand for Bitcoin Spot ETF rising over the years, Bitcoin’s price could likely surge with the launch of Europe’s first Spot ETF. The demand is poised to usher in more investors and traders looking to gain access to Bitcoin in an untraditional fashion. 
 Notably, the U.S. market is predicting that the launch of a Bitcoin Spot ETF in the country could open the doors to trillions. According to a Bloomberg analyst, a whopping $30 trillion worth of capital could flow into the market once the SEC greenlights any of the recently filed ETF applications. 
 Notably, <a href="https://www.crypto-news-flash.com/blackrocks-bitcoin-etf-application-unveils-unprecedented-surveillance-powers-secs-possible-decision/" rel="noopener noreferrer nofollow">Blackrock</a>, a trillion-dollar asset management firm in the United States has joined many others to file for a Bitcoin Spot ETF. Although the market is patiently awaiting a response from regulators, it is uncertain if any of the ETF filings have a fighting chance. 
 Meanwhile, Bitcoin has managed to break out from the $30,000 price level after struggling to sustain momentum over the past week. As the market makes an upward correction, Bitcoin bulls have succeeded in clearing losses. <a href="https://www.crypto-news-flash.com/marketcap" rel="noopener noreferrer nofollow">Bitcoin</a> now trades at a press time price of $31,116, after securing a nearly 2% gain in the last 24 hours.
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Game-Changer: Europe Launches Spot Bitcoin ETF – Can It Drive BTC Price to a New All-Time High of $100,000? Details

Зміст

Crypto News Flash

Інші статті, опубліковані 17 лип. 2023 р.

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