Bitcoin ETF Opportunities Rise
On October 4, crypto trader and analyst Alex Krüger said that his Bitcoin ETF's chances of approval were 70%. He added it would likely happen in January, and the event could be traded.
“Crypto traders are ‘Sell the News’ professionals,” he said before adding, “Selling the news requires openness.”
The SEC strongly opposes spot-based crypto derivatives that need to own an underlying asset. Instead, they only approve contracts based on futures contracts, citing volatility and market manipulation.
ETF shop president Nate Geraci echoed the sentiment, stating:
“This is why you launched an Ether futures ETF even though you knew a spot ETF would likely be approved in the not-too-distant future.”
Following Ripple's latest partial win against the SEC this week, “Crypto Rover” said:
“The SEC now has no valid argument to reject spot Bitcoin ETFs. They will be forced to accept it.”
The “Bitcoin Therapist” agreed, adding:
“I think this is mostly true. Except they will be the scapegoats for crypto fraud for as long as the narrative allows. Ultimately, this will be approved and trillions of dollars will flow through it."
According to “Mister Crypto,” the former BlackRock director said that the SEC will approve a spot Bitcoin ETF within three to six months. He also said there could be capital inflows of up to $200 billion.
