The crypto community is optimistic about a launch of a Bitcoin (BTC) exchange-traded fund (ETF) in cash in the coming months, which could increase prices.
When commenting on the subject na Bloomberg TV, on December 19, the president of MicroStrategy, Michael saylor, highlighted the importance of the upcoming ETFs, which should not be underestimated by the markets. For Saylor, the launch could be the biggest development in Wall Street the last 30 years.
“It is not unreasonable to suggest that this could be the biggest development on Wall Street in 30 years,” Saylor highlighted.
In his statement, the MicroStrategy executive also cited the latest new product that could be comparable as the S&P 500 ETF.
The $ BTC Spot ETF may be the biggest development on Wall Street in the last 30 years. My discussion of # Bitcoin in 2024, Spot ETFs vs. Spot ETFs $ MSTR, and the emergence of bitcoin as a treasury reserve asset with @KaileyLeinz on Bloomberg @Crypto. pic.twitter.com/QtPdBOhMDr
- Michael Saylor⚡️ (@saylor) December 19, 2023
Saylor also highlighted in his statement that main investors have not yet had a channel that is compatible with “high bandwidth” in order to put money into BTC, and, with the launch of ETFs, this should change.
Bitcoin ETF: Wall Street Is Targeting $100 Billion Potential
The launch of exchange-traded funds (ETF) Spot Bitcoin (BTC) Is Being Treated As The Cryptocurrency Sector's Big Breakthrough On Wall Street, as highlighted in a Bloomberg report published on November 20.
The launch of a spot Bitcoin ETF will open up the possibility for institutional and regular investors to invest in digital currency.
A Bloomberg Intelligence forecast highlighted the market's growth potential with the participation of financial giants such as BlackRock, Fidelity and Invesco. With this, the spot market for Bitcoin ETFs could grow to US$100 billion over time.
After spending years denying the requests, the Securities and Exchange Commission (SEC) of the US may approve BTC ETFs in mid-January or even earlier.
