The BTC Spot ETF, and how I see it
Hi,
so, it happened and there is a BTC Spot ETF approval from the SEC. Like written yesterday, I wanted to wait at leats one day, to check how the market is responding, how it reacts, and what impact has it in general.
Well, from a price point of view, it happened the opposite of what most wanted or expected, as it dropped strongly. As a curiosity, ETH had a big jump, as well as other alternatives.
The good side is, that it had a decent trading volume, of 4,6 billions USD, which is not easy to achieve on the first day. Also, not all countries could participate in trading it, for example, in Germany, you can't trade it.
Price drops might be normal, due to a lot of reasons:
- it follows the market now, and the money coming in from financial institution, that speculate on these ETFs
- the ones who know BTC are already invested in it, or in companies that hold the asset, as MicroStrategy, or Coinbase. By the way, both of them went down the past days.
- traders bought in anticipation during the past year and now are taking profit.
- some enthusiasts think that the move will start a money grab by the state and the financial institutions, which probably will be the case.
There are some good news with this:
- more people can get into crypto, as till now it is complicated to get in. This brings mass adoption.
- scarcity on the long run
- crypto is seen as a normal investment possibility, not some shady thing in the darkness of the web
There are some not so good things:
- over regulations
- anonymity lose
- on the long run, inaccessibility due to the price increase
- financial institution control, which is the contrary point of crypto
In a nutshell, we still can grab BTC and other cryptos, and hold them in our wallets. I would not buy into the BTC Spot ETFs, as these are not my BTCs in the end, remember, not your keys, not your crypto.
As I'm not a financial analyst, and this is only my personal view, please do your due diligence and research before investing. I know, that I will continue to increase the stash in various crypto projects.
How do you see it? Do you feel positive about it?
Posted Using InLeo Alpha
As long as more people have access to BTC, I think the spot ETF is a good thing. Maybe we didn't see the "god candle" overnight, but just think of t
It this way: if Blackrock, were to invest 1% of their $10 Trillion under management into Bitcoin, that's $100 Billion taken off the market.
Well, from an economical perspective, of course. Now BlackRock is buying a lot of distressed housing, which postponed a crash. In 2008, not a lot of institutions acted in the subprime market.