- BlackRock is showing signs of imminent ETF approval with active SEC collaborations and DTCC listings.
- The expected inflow into the Bitcoin Spot ETF could touch a staggering $200 billion.
- Comparing to Ethereum’s past ETF success, Bitcoin could see new ATHs in just days after the ETF’s acceptance.
The world of cryptocurrency is abuzz with the anticipation of BlackRock’s Bitcoin Spot ETF, and many believe it could be the catalyst that drives Bitcoin’s price beyond the $100,000 mark. But why is there such optimism, and what signs are pointing to this bullish trajectory?
To start with, there are strong indications that the Spot ETF’s approval is just around the corner:
- Collaborative efforts between the ETF’s issuers and the SEC have been reported, signaling the advanced stages of the filing process.
- BlackRock’s ETF, denoted as $IBTC, has made its appearance on the DTCC’s list.
- Furthermore, the financial giant has begun the ETF seeding process, actively purchasing Bitcoin in preparation for the fund.
Now, considering the potential impact on Bitcoin’s price, the numbers speak volumes. With the BlackRock Spot Bitcoin ETF predicted to draw in a whopping $200 billion in inflows, the crypto markets are set for a major shakeup. Due to the nature of supply and demand, especially in an environment of limited liquidity, even the slightest changes can result in significant price hikes.
The Bitcoin BlackRock Spot ETF is so close to being accepted, and this will push $BTC to $100,000+ in no time!
Here’s why:
First of all, these are the signs of imminent acceptance:
– The issuers are actively working with the SEC to complete the filings.
– BlackRock’s $IBTC got… pic.twitter.com/BCq2rM3pgv— Crypto Rover (@rovercrc) October 24, 2023
Drawing parallels to previous milestones, it’s worthwhile noting Ethereum’s Futures ETF scenario. Once it was approved, the mere five-day gap between the official green light and the commencement of trading saw Ethereum’s value soar. Given this precedent, Bitcoin, with its inherent market dynamics, is primed for a rapid rise, potentially reaching new all-time highs in an astonishingly short timeframe.
In conclusion, the BlackRock Spot Bitcoin ETF’s impending approval could very well be the match that lights Bitcoin’s fuse, sending it skyrocketing towards, and possibly beyond, the $100,000 mark.
