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Bitcoin ETF Approval Expected in Spot – Competition with Coinbase Expected

Bitcoin ETF Approval Expected in Spot – Competition With Coinbase Expected
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Investors' expectations for the approval of a spot Bitcoin ETF are high. However, this could completely change people's access to Bitcoin. At the same time, it could lead to significant competition with exchanges like Coinbase in the medium term.

A SEC is close to deciding on the various applications for spot Bitcoin ETFs. This leads many analysts to speculate about how this possible approval of ETFs could have an impact on the cryptocurrency industry as a whole.

Several applications for Bitcoin ETFs are awaiting approval. Requests include the world's largest asset management company, BlackRock, as well as Fidelity and Franklin Templeton. This means that any approval has the potential to greatly influence the market.

Some cryptocurrency experts have observed a nearly 50% increase in Bitcoin price in the last two months. One factor for this is the expectation of approval of a Bitcoin ETF by the SEC. 

The effect this approval of BTC ETFs may have on some specific industry sectors is likely to be less positive. An example of this is the case of the Coinbase exchange.

While Coinbase has become an irreplaceable part of the ETF race, serving as a proposed custodian and partner for many of the approval candidates, the exchange could be hurt as new investors enter the market, according to JPMorgan analysts.

In the medium term, ETFs could be a competitive threat to Coinbase. New investors may choose an ETF as an investment tool rather than exchanges like Coinbase, which would result in a decrease in the number of new accounts for the company.

Many new investors may never need the services of an exchange like Coinbase, as the ETF market has the potential to be more transparent, efficient, and have lower execution costs. All of this could force Coinbase to reduce its fees.

Investors who want to closely monitor this approval and profit from the unfolding story of spot Bitcoin ETFs should check out projects that follow this change. A great example of this is the Bitcoin ETF Token, a new project that could be very profitable with the approval of BTC ETFs.

>>> Visit Bitcoin ETF Token <<

Discover the new project that promises to accompany the approval process of a Bitcoin ETF – BTCETF pre-sale stands out in the market

The new cryptocurrency project Bitcoin ETF Token (BTCETF) promises to follow the entire process of approval of a Bitcoin ETF in cash by the SEC. Therefore, this project promises to be very profitable for investors.

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The launch is expected to be highly successful, as the Bitcoin ETF Token will initially have a small market capitalization – just under $5 million. Additionally, the project will impose a 5% tax in order to discourage early investors from selling the tokens during launch.

As a result, when BTCETF first hits exchanges, there will likely be few pre-sale tokens on the market. Public demand for the new token could easily outpace supply and cause the price to increase.

The launch of the Bitcoin ETF Token is already highly anticipated by investors, as the SEC is expected to approve the first Bitcoin ETF in cash at the end of December or beginning of January.

This has significant implications for the Bitcoin price ETF Token because the project plans to burn 5% of its total supply when the SEC approves the first spot Bitcoin ETF.

Therefore, the big highlight of the project is that it offers token burning tied to real-world milestones in the development of a Bitcoin ETF. There are 5 milestones including:

  • $100 million in BTCETF trading volume
  • SEC Approval for First US Spot Bitcoin ETF
  • Launch of the first spot Bitcoin ETF in the US
  • $1 billion in assets under management in Bitcoin ETFs
  • Bitcoin price above $100

When each milestone is reached, the Bitcoin ETF Token will automatically burn 5% of the total token supply. Thus, after all milestones are reached, the project will have burned 25% of all BTCETF tokens.

During pre-sale, BTCETF tokens can be purchased with some of the most popular cryptocurrencies on the market, such as ETH, BNB or even with USDT or a bank card. All you need to do is have a compatible crypto wallet and access the project's official website.

The pre-sale of BTCETF tokens has already raised more than US$1,3 million and there is little time left until the next price increase. Therefore, interested investors should check out the project as soon as possible if they want to get the best pre-sale discounts.

>>> Take part in the Bitcoin ETF Token pre-sale <<

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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