Bitcoin Q4 Fundamental Outlook: Spot ETF Decisions to be the Driving Force?

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.Oct 6, 20232023-10-06 12:40:00continued their struggle in Q3 as market uncertainty and low volatility played key roles. Bitcoin and Crypto markets as a whole remained on a downward path for the vast majority of the quarter with the occasional spike providing bulls with some optimism.

The SEC and the US as a whole have come under some criticism and scrutiny around the announcements as some believe it may be a witch hunt. Other notable market participants and Bitcoin enthusiasts such as Cathy Wood have voiced their concerns that the US may get left behind in the race around crypto regulation, a sentiment echoed by Coinbase CEO Brian Armstrong. This has continued throughout the third quarter and has led to some firms offering fewer services in the US.

During the last quarter we discussed the Bitcoin ETF application by Blackrock which has since been followed up by WisdomTree, Invesco Galaxy, Wise Origins, VanEck, Bitwise and Valkyrie Digital Assets. I suppose looking at the success of BlackRock’s past ETF success with the SEC, many crypto followers were hoping that the world’s largest Asset Manager will be successful. The SEC has however filed paperwork stating that all decisions on all spot Bitcoin ETF application will be made in October.

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