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.”
