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Bitcoin has lessons to learn from gold’s Spot ETF journey

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The interest shown by big institutional players has strengthened hopes of a BTC bull run and changed the market sentiment to greed.

Gold’s value grew exponentially after its Spot ETF in 2003., briefly breached past the $31,000 as market optimism continued to grow in the wake of multiple applications for a Spot Bitcoin Exchange-Traded Fund .The move past $31,000 was the asset’s best performance in over a year. The bullish rally was triggered after BlackRock, the world’s largest asset management company,Since then, other TradFi players like WisdomTree and Invesco have thrown their hats in the ring as well.

, which was stuck at the neutral position over the last month. This begs the question – What is it with Spot ETF that has heightened traders’ hopes?Bitcoin’s ETF will allow buyers to invest in the king coin without buying the actual asset. Thus, they will be able to escape the hassles of cryptocurrency exchanges and crypto wallets.

 

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