Is another merger of the two worlds of stocks and cryptocurrencies coming?
I'd like to do a little poll and discussion. Crypto doesn't belong here, but it's already encroaching on our world in the form of $COIN+0.1% stock, for example, and with the plans for a spot ETF, it may get a little further again.
Bitcoin ( BTC ) is in for a potentially historic week and the crypto market is holding its breath over the approval of a spot Bitcoin exchange-traded fund (ETF) in the United States. Many believe the approval will catalyze another crypto bull market and a wave of cryptocurrency adoption.
The list of hopeful spot bitcoin ETF issuers has grown, and participating companies filed their latest amendment forms on January 8.
Analysts and observers predict that the U.S. Securities and Exchange Commission (SEC) will finally approve the first spot bitcoin ETFs by January 9 or 10. Bloomberg senior ETF analyst Eric Balchunas believes "there is a 90% chance" that a spot bitcoin ETF will be approved.
Regardless of the decision, approval or rejection, the crypto markets will undoubtedly be shaken.
The crypto industry may be preparing for the popping of champagne bottles, but what about its ripple effect? For the bitcoin ETF market, the arrival of titans like BlackRock and Fidelity - with trillions of dollars in assets under management - could shift the fundamentals of companies like Coinbase and MicroStrategy. Both trade on the open market, but how will they react to spot bitcoin ETF approvals?
What do you say, is there a chance of at least a trade?