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Edited by Ritu77 at 23-12-2023 05:44 PM
Bitcoin futures have been listed, so will Bitcoin spot ETF be far behind? Since the approval of the first Bitcoin futures ETF in the United States, the ProShares Bitcoin Strategy ETF, by the U.S. Securities and Exchange Commission (SEC) in October, it has ignited public enthusiasm. Within just a few days of trading, it accumulated up to $1 billion in assets, setting a record for the largest and busiest start for a Bitcoin ETF. Due to the enthusiastic response, everyone can't help but wonder when the Bitcoin spot ETF will be listed.
At this point, you might be asking, what is the difference between Bitcoin futures and spot? Let me provide a brief explanation: futures are a commitment to deliver "goods" at a future time, while spot refers to tangible commodities that can be paid for and delivered immediately. Because futures involve contracts, they are more susceptible to the impact of roll costs associated with contract management compared to spot. This is why if Bitcoin spot is approved in the United States, investor demand may be higher.
Despite public expectations, the current situation suggests that the listing application for a Bitcoin spot ETF may continue to face obstacles. According to Bloomberg ETF analyst James Seyfart, the chance of approval for Kryptoin's Bitcoin spot ETF application is nearly 0% as of this week's deadline. So those eagerly anticipating the listing of Bitcoin spot may need to wait a bit longer.
Now, you may wonder, why does the listing of Bitcoin spot concern me? While the listing of Bitcoin spot may not directly impact you, it can indirectly influence the price of virtual currencies. Why? One reason the last time Bitcoin reached a historic high was the announcement of the first ProShares Bitcoin Strategy ETF listing in the U.S., which indirectly influenced the market. So, with the listing of Bitcoin spot, perhaps your virtual currency holdings could fetch a good price? |
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Post time 5-12-2023 12:20:28