As more and more people and organizations use Bitcoin, the cryptocurrency market is getting busier. This is one of the main reasons why Bitcoin’s value has been going up.
Many experts think that the first Bitcoin exchange-traded fund (ETF) listed on a U. S stock exchange will be available in just a few weeks.
In a recent interview, Bakkt’s Chief Product Officer Daniel O’Prey said that the company is investing in the part of the business that works with big organizations, while people are talking about a BTC ETF.
He said that small investors did better last quarter because of the price of Bitcoin and people guessing about it. O’Prey thinks that more big investors are coming back to the market and feeling more comfortable, and this might make it easier for regular people to invest in regulated, easy-to-sell stocks.
“Once the infrastructure is ready for institutions to use, many different companies will be able to invest more money in this area. ” “These will go up a lot in the next year. ”
Many experts think the SEC will say yes to a BTC ETF in January, but O’Prey is not so sure. He thinks it might happen next year, but it’s hard to predict.
O’Prey thinks that if the spot ETF for Bitcoin is approved and the halving event happens, it might cause people to sell their Bitcoin because they were expecting it.
He also said that when the spot ETF starts, there will be a big increase in profits for people. He said he is sure that in the near future, this will have a mostly good effect.
O’Prey also said that the Bitcoin halving is something that people already know about and expect. It could cause people to sell their Bitcoin when it happens.
“I think the price will go up and down a lot because of the halving and the large amount of money involved. But in the long run, it will probably cause the price to increase and more people wanting to buy. ”
“Don’t take this as investment advice. “