As Crypto Markets Brace For SEC Decision – Here’s Why Bitcoin ETF Token (BTCETF) Could Be The Ultimate Beta Play
Wednesday, January 10, 2024 – Crypto markets are alive with anticipation for the U.S. Security and Exchange Commission’s long-awaited decision on spot Bitcoin ETFs, and eagle-eyed traders are targeting Bitcoin ETF Token (BTCETF) as the perfect beta play – here’s why.
After months of deliberation and discussion between the Securities and Exchange Commission (SEC) and 13 applicant companies, the January 10 deadline for the SEC’s response to Ark 21Shares’ appeal has arrived.
With a flurry of S-1 filing submission amendments in quick-fire response to last-minute questions by the SEC earlier this week, commentators are now anticipating a potential batch approval of spot Bitcoin ETFs later today.
In a bullish sign that hints at imminent approval, this comes as top applicant firms like BlackRock and VanEck enter a race to the bottom fee war; with VanEck’s lowest offer of a 0.25% fixed fee for a Bitcoin ETF now leading the pack.
Well said although I probably go with 5% at this point. But you gotta leave a little window open for these things.
— Eric Balchunas (@EricBalchunas) January 6, 2024
Bloomsberg’s Senior ETF Analyst Eric Balchunas has now shifted the probability of approval to 95%.
Bitcoin’s price has jumped considerably following the rumor of an imminent $2bn bazooka on the horizon from BlackRo ck aimed at kick-starting their new ETF, with the BTC price pushing up toward $47,500 in recent days for the first time since April 2022.
Yet, with Bitcoin offering limited growth opportunities at a whopping $894,410,037,096 market cap, traders are now scrambling ahead of the decision to find the best Bitcoin ETF approval beta plays.
With traders seeking out high growth potential projects for the best returns following
