exchange-traded fund . Analysts at Bloomberg Intelligence now estimate a 90% chance that the Securities and Exchange Commission will give the go-ahead to such an investment product by January 10, 2024.
But trusts are unwieldy products compared to ETFs, which are traded on exchanges throughout the day and can be highly liquid. Some firms are choosing to act now. Cathie Wood’s ARK Invest, which also has a Bitcoin ETF in the pipeline, has begun selling shares of GBTC in anticipation of its successful conversion into an ETF.Assuming for the moment that the SEC is in fact ready to give its blessing to a BlackRock-issued Bitcoin ETF, it’s possible we may never see the token below $30,000 again.
According to estimates made by blockchain and digital asset company Galaxy, a U.S.-based spot Bitcoin ETF would attract $14 billion in investor inflows in the first year alone. This would accelerate to $27 billion in the second year and, at the end of the third year following its launch, nearly $40 billion.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Investingcom - 🏆 450. / 53 Read more »