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COINTURK NEWS > Bitcoin (BTC) > Bitcoin ETF Rumors Reach Annoying Levels But Indicate Potential Growth
Bitcoin (BTC)

Bitcoin ETF Rumors Reach Annoying Levels But Indicate Potential Growth

In Brief

  • Rumors of Bitcoin ETFs have become tiresome, yet insiders hint at progress.

  • BlackRock's surprise Spot Bitcoin ETF filing in mid-2023 stirred the markets.

  • Industry giants signal Bitcoin's rise through actions, not words.

COINTURK NEWS
COINTURK NEWS 1 year ago
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Bitcoin ETF rumors have now reached an annoying level, but those in the know have much to say. Today, we are not privy to the scope of discussions between issuers and the SEC. Companies are not authorized to announce these and can only hint at what stage they are at through implications. Implied shares are now showing that the end is near.

Cryptocurrencies Could Rise Rapidly

BlackRock‘s surprise Spot Bitcoin ETF application in mid-2023 was exciting as it plunged into the markets. We also recently saw giants like JP Morgan making AP agreements in these ETFs. Trillion-dollar giants are saying that Bitcoin will rise without forming sentences, they are doing it with the steps they take.

Now, in an ongoing X Space broadcast, VanEck’s Matthew Sigel (Head of Digital Assets Research) said;

“From a very well-placed source, I heard that Blackrock had over $2 billion queuing up in new additional flows from existing Bitcoin investors adding to their positions in the first week – I can’t vouch for that. But you know, that’s what everyone is doing. We’re just making phone calls and trying to find people who can write checks for these products. And our estimates – you know, if this $2 billion happens in the first week, you know, it would blow our estimates out of the water. Looking at past flows to the first gold ETF and adjusting for the US money supply, we’re at $2.5 billion in the first quarter of our investment. And based on similar analyses, we have a market opportunity of $40 billion in two years.”

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 5 January, 2024 - 11:18 pm 5 January, 2024 - 11:18 pm
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