Investors should focus on how the approval of spot BTC exchange-traded funds could affect the price of bitcoin, according to a report by Cantor Fitzgerald.
Cantor said that the approval is a big moment in bitcoin’s history and will likely make the price go up in the future.
“We think that this approval will have a big impact on the market, happening a few months before the next time the supply of bitcoin is reduced, which is expected to happen in April 2024,” analysts Josh Siegler and Will Carlson said. When bitcoin halving happens, miners get half the rewards they used to.”We think investing in bitcoin miners is a good opportunity for people who want to invest in the long-term success of bitcoin. It could have a big positive effect on the value of bitcoin miners. “
Investment bank H. C means a bank that helps people with their investments and money. Wainwright & Co. is a company. The approval of spot ETF for bitcoin is a big deal for bitcoin and the people who mine it. ETFs are a way for regular people and big investors to invest in bitcoin in a safe and regulated way. This should make it easier for more people to invest in bitcoin, which is the biggest cryptocurrency in the world.
“We think a lot of people and companies who are interested in Bitcoin haven’t been able to invest in it because it’s complicated to buy digital assets,” said analyst Mike Colonnese. “We think that more people will want to buy BTC because of these new spot ETFs that have been approved. “