When the SEC might give the go-ahead for the Bitcoin ETF, it made Bitcoin and other cryptocurrencies go up in price. Everyone was hoping for good news from the SEC.
In late November, experts were waiting for approval for spot ETFs, and then a new report about ETFs came from analysts at Coinbase.
Coinbase experts, headed by Coinbase’s research leader David Duong, said that if regular Bitcoin investment funds are allowed, new groups of investors will enter the crypto market, Coindesk reported.
Coinbase said that the new types of investors will be registered investment advisors, pension funds, and institutions that haven’t been able to invest in this type of asset before.
“The approval of spot Bitcoin ETFs will allow more people to invest in cryptocurrencies, which could have a big impact on the market. ”
ETFs will make it easier for big investors and companies to buy and keep BTC. This will make it easier for everyone to buy and sell BTC at the right price.
Also, having an investment option that follows important rules can allow for new products to be introduced, which can increase the use of crypto and Bitcoin.
“Allowing spot ETFs now could make the crypto market grow by billions of dollars in the future. ETFs could also make the crypto market more regulated and attract more people to invest in crypto and BTC. ”
Coinbase experts said that with growing political tensions and economic problems, there are fewer places for people to keep their money safe. They also mentioned that with the growing interest in Bitcoin, it is becoming more popular as a safe option in uncertain times. Also, the banking industry in the US is still very at risk. This makes Bitcoin more like other types of money. It makes it even more appealing as a different option to the financial system.
This is not advice about how to invest your money.