The king digital currency Bitcoin is gradually coming out of the bush, with which we are looking at the possible implications of the approval of Spot Bitcoin ETF by SEC. The application has been brought to the US security and exchange commission to approve bitcoin spot exchange fund.
Charles Yu of digital research says, that the spot bitcoin ETF fund will one of the major catalyst that will bring about a surge in trading volume and market price of the most tradable digital asset bitcoin and the adoption of the digital asset.
The executive is optimistic that the digital asset will see a double digit as regards price which will quite outperform the market value of the digital asset this time last year.
We could see monthly returns gradually ramping down from +6.2% in the first month to +3.7% by the last month of the first year, resulting in an estimated +74% increase in BTC in the first year of an ETF approval (using 9/30/23 BTC price $26,920 as the starting point).
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