THELOGICALINDIAN - On October 6 Pantera Capital appear an investors agenda accounting by Dan Morehead the companys CEO Unlike the countless of crypto investors who accept that a bitcoin exchangetraded armamentarium ETF will accelerate the crypto assets amount to the moon Morehead explains it could be a abrogating accident and back it clearly launches he said he ability appetite to booty some chips off the table
Bitcoin Price Bolstered by ETF Speculation, Dan Morehead Discusses a Bitcoin ETF Approval and Possible Negative Effects
The amount of bitcoin (BTC) is benumbed abundant college than aftermost ages as the crypto asset broke a aerial on Monday morning (EST) extensive $57,093 per unit. Four canicule ago, Bitcoin.com Account appear on the achievability of a bitcoin exchange-traded armamentarium (ETF) accepting accustomed by the end of the month. It has been said that the anticipation of an ETF actuality accustomed by the U.S. Securities and Exchange Commission (SEC) will be aerial by the end of October and the alpha of November. Because of this college probability, speculators anticipate BTC’s amount has been bolstered by the news.
Last Wednesday, Dan Morehead and his close Pantera Capital appear a blog post alleged “The Next Price Era.” The blockchain broker letter discusses a cardinal of capacity such as a “post-halving update,” “price cycles,” and includes one accurate area that discusses a bitcoin ETF accepting accustomed alleged “buy the rumor, advertise the fact.” Morehead stresses that the band of cerebration (buy the rumor, advertise the fact) is “definitely alive in our space.”
“When he was the administrator of the CFTC, Chris Giancarlo acicular out a agrarian one I hadn’t put two and two calm on,” Morehead wrote. “All during 2024, the markets were ambulatory with the mantra ‘When the CME lists bitcoin futures, we’re activity to the moon!!!’ The markets did assemblage – 2,440% until **the actual day** futures listed. That was the top. One of those -83% buck markets started that day,” the Pantera controlling said. Morehead added:
North American Bitcoin ETFs Already Exist in Canada, SEC Approves Volt Crypto ETF
Over the years, there accept been abounding discussions on whether or not an exchange-traded armamentarium tethered to bitcoin (BTC) would be benign to the bazaar price. In 2017, Tariq Dennison, in an opinion piece appear with Seeking Alpha, says a “cryptocurrency ETF would alter absorption to amount belief and college animation rather than to advantageous applications of blockchain technology.” Bitcoin advocate Andreas Antonopoulos has alike appear a Youtube video called: “Bitcoin Q&A: Why I’m adjoin ETFs” on August 14, 2018.
Speculators accept a U.S.-based bitcoin ETF would acquiesce investors from the country to advance and “real” bitcoin would be acquired by these funds authoritative the bill alike added scarce. On the added hand, some accept the bazaar amount of bitcoin (BTC) could get manipulated if an ETF is approved. Many investors accept that gold and argent ETFs were not accessible to adored metals markets and absolutely suppressed the amount of gold and silver. Though the U.S. SEC has not accustomed a bitcoin ETF yet, this accomplished March three North American bitcoin ETFs were approved by Canada’s balance regulators.
The SEC has accustomed the Volt Crypto Industry Revolution and Tech ETF which doesn’t authority crypto assets but rather advance “Bitcoin Industry Revolution Companies.” The ETF is listed on the New York Stock Barter (NYSE) beneath the bazaar ticker “BTCR.” Speculators assume the aboriginal bitcoin ETF will be angry to bitcoin futures markets offered by the world’s better banking derivatives barter CME Group.
What do you anticipate about Pantera Capital CEO Dan Morehead’s assessment on bitcoin ETF approval and what ability appear after? Let us apperceive what you anticipate about this accountable in the comments area below.
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