![Why Are Bitcoin ETF Approvals 'Much Better' For Altcoins Than BTC](https://captainaltcoin.com/wp-content/uploads/2023/08/P2P-Review-38.png)
History was made this week when the first set of Bitcoin spot ETFs were finally approved by regulators after years of rejection. With the ProShares Bitcoin Strategy ETF (BITO) set to begin trading on January 11th, many in the crypto community are wondering – what happens now? According to crypto analyst Ash Crypto, this is just the beginning of the institutional adoption of Bitcoin.
Slow and Steady Growth Expected
While retail crypto traders may expect an instant surge in Bitcoin’s price due to the ETF launch, Ash Crypto cautions that Wall Street will take a more measured approach. “Institutions are not Degens,” he explains, referring to the more reckless retail “day trader” mentality. Instead of pouring in billions of dollars all at once, mainstream investors will slowly accumulate Bitcoin exposure over time through investments in ETFs like BITO.
Rather than expectations of Bitcoin immediately pumping to $100k, Ash Crypto advises to “set your expectations accordingly and don’t think ETF failed” if massive gains don’t appear overnight. This is the start of a long process as institutional dollars steadily flow into the crypto space now that they have an approved ETF product to trade.
Targeting $250k+ By 2030
While institutions will build up Bitcoin holdings slowly, their long-term outlook is extremely bullish. Ash Crypto points out that a titan like BlackRock, which manages over $9 trillion in assets, did not launch a Bitcoin ETF just to sell their coins at $70k. The biggest players in finance have set their sights much higher, with targets of $250-500k per Bitcoin by the end of the decade.
The ETF approval finally gives them a regulated vehicle through which to invest in the crypto markets. And mainstream interest in Bitcoin is only likely to grow now that crypto is reachable via traditional stock market channels. So while massive overnight gains are unlikely, the future is bright for Bitcoin as institutional dollars accumulate in the coming years.
Doge2014 raises 300K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Stay Calm and HODL
For regular crypto investors used to meteoric rises and crashes, the slow institutional adoption may be less exciting in the short-term. But Ash Crypto urges retail holders to stick to the long-term plan: “Don’t get Shaken out, hold tight.” The ETF launch is a pivotal first step on the road to mainstream acceptance. And once Wall Street finally brings its full weight into crypto over the coming years, Bitcoin breaking into triple-digit territory seems inevitable.
While flashy overnight gains are often the goal in crypto trading, Ash reminds that the ETF is about establishing a long-term institutional foothold that will stabilize Bitcoin as an asset class. And in the long run, that’s what will take the entire crypto market onto bigger stages. So HODL strong, stick to the long-term outlook, and get ready for the real fireworks later this decade. According to Ash, with this ETF approval “BITCOIN IS GOING TO $250k+
You may also be interested in:
- Bitcoin Fails To Rally On ETF News Due To 4 Key Factors; How To Capitalize On April’s BTC Halving With This Token
- 22,727 Kaspa (KAS) Will Make You Rich: Analyst
- Ethereum ($ETH) Steals Bitcoin’s Thunder On SEC ETF Approval By Surging 10% – Is $3,000 Coming This Week While $BTCMTX Continues Rising?
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.