Bitcoin

<ul><li>Santiment&#39;s report shows dwindling Bitcoin ETF enthusiasm.</li><li>Franklin Templeton&#39;s filing triggers a measured response in the Bitcoin market.</li><li>Crypto community grapples with tempered reactions to ETF developments.</li></ul>The crypto world recently witnessed a surge in excitement as Franklin Templeton <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-jones-09-12-2023/card/franklin-templeton-files-for-spot-bitcoin-etf-yowODPFSnwvAPkptfIhp" rel="noopener noreferrer nofollow">applied</a> for a Bitcoin exchange-traded fund (ETF). However, according to Santiment, a crypto market intelligence platform, the initial frenzy surrounding this news has quickly dwindled. Per experts, history has shown that moments of ETF anticipation often lead to overreactions in the crypto market.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2a5f00ace47e440895f0e2326eaee58d.png" />Bitcoin ETFs have been a hot topic in the crypto space for years. Advocates argue that a US spot ETF could attract over $50 billion in demand and open the doors to a new wave of investors. This optimism was further fueled by recent <a href="https://cryptotale.org/blackrocks-bitcoin-etf-filing-boosts-crypto-industry-upcoming-bull/" rel="noopener noreferrer nofollow">applications</a> from industry giants like BlackRock and Fidelity, leading to a 20% Bitcoin rally since mid-June.However, there&#39;s a counterargument. Some <a href="https://www.bloomberg.com/news/articles/2023-07-18/bitcoin-btc-etf-hype-over-blackrock-fidelity-threatens-a-letdown#xj4y7vzkg" rel="noopener noreferrer nofollow">believe</a> that ETFs tracking Bitcoin futures already serve the market adequately, making the creation of new spot ETFs unnecessary. This debate has been ongoing for over a decade, with the Securities and Exchange Commission (SEC) repeatedly <a href="https://cryptotale.org/bitcoin-etfs-face-sec-hurdles-altcoins-surge-with-potential-bullish-outlook/" rel="noopener noreferrer nofollow">denying</a> ETF proposals.Franklin Templeton, a financial powerhouse with roots dating back to the mid-20th century, added to the ETF chatter by applying the &#34;Franklin Bitcoin ETF.&#34; Like other applicants, they intend to list their ETF on the Cboe BZX Exchange and have Coinbase as their Bitcoin custodian.- Read full article at<a href="https://cryptotale.org/bitcoin-etf-fomo-dies-down-amid-skepticism-santiment/" rel="noopener noreferrer nofollow"> CryptoTale .</a>

Bitcoin ETF FOMO Dies Down Amid Skepticism: Santiment

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