Co-founder of Pear Protocol, Ξ huf, tweeted to outline the key dates and timeline for the BlackRock Bitcoin Spot ETF, provide trading strategy suggestions for corresponding time points, and analyze the potential impacts on BTC price and the cryptocurrency landscape if the spot ETF is approved.
Grayscale sued the SEC last year, claiming that the SEC did not allow it to convert GBTC into a spot ETF. The court’s ruling will be announced in the coming weeks/months, and if successful, it will pave the way for potential spot ETFs. BlackRock’s application is not coincidental.
You might think that there is no relevant news before August 12, 2023, but that is not the case. ARK/21shares also applied for a bitcoin spot ETF in April 2023 and will receive a decision/delay on June 29, which may be rejected. In addition, the court’s support for Grayscale’s judgment may come at any time in the future. If they succeed, BlackRock’s chances of approval for their application will increase significantly.
- The Block: Fidelity files application for Bitcoin spot ETF
- Analysis of the first leveraged Bitcoin strategy ETF in the United States
- Bitcoin futures ETF with leverage is set to launch on Tuesday
This is one of the rare opportunities in the market that is truly worth paying attention to. If the spot ETF is approved: BTC will exceed $100,000; if the spot ETF is delayed: BTC will fluctuate significantly; if the spot ETF is rejected: BTC will decline as attention shifts, altcoins will die, regulation will form, and cryptocurrency mergers and acquisitions will emerge.
Reference: https://twitter.com/hufhaus9/status/1673447437271453698
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