Kral crypto currency unit has turned its direction upwards, targeting $49,000, while it was still struggling to close above $45,300. As the Asian markets opened in the morning, the rally gained momentum and January started off as expected. Moreover, potential spot Bitcoin ETF issuers seem to be trying to tell us something.
Spot Bitcoin ETF
Following a post by Galaxy CEO Michael yesterday about being ready for big things, Grayscale CEO also wrote something similar a few minutes ago. The truth is that companies applying for an ETF have established close relationships with the SEC and had 30+ meetings last month. They know more than us, and judging by their posts, they are confident that the SEC will approve the Spot Bitcoin ETF this week. Moreover, they know things that give them this confidence that we are not aware of.
The SEC may have told them not to make comments about the ETF approval coming before their own announcements. The suppressed excitement reflected in their posts supports this. The Grayscale CEO’s post below, implying that big things will happen this week, couldn’t have been made in vain right after Michael’s.
The GBTC premium, which had dropped to -5.5%, has now risen to the -7.94% area. This week is definitely going to be busy.
