Bitcoin ETF Token Soars Past $2 Million In Three Weeks – Here Are Three Reasons Investors Are Backing It
Bitcoin ETF ($BTCETF) has already attracted more than $2 million in its presale in under three weeks.
Investors are rushing to the presale to gain exposure to the Bitcoin ETF approval by the SEC ahead of the January deadline, expecting significant 50x returns for early adopters.
Bitcoin ETF is a Web3 project that integrates a novel burning mechanism that helps the value of $BTCETF appreciate the closer it gets to being approved.
Here are three reasons why investors are backing this innovative ETF-related project.
What you'll learn 👉
Three Reasons Why Investors Are Rushing to the Bitcoin ETF Presale
Bitcoin ETF is a project that offers an alternative exposure vehicle to the Bitcoin ETF approval from the SEC.
It’s designed to celebrate and capitalize on the arrival of the BTC ETF in US financial markets, with innovative features that help its value increase the closer it arrives.
Here’s the three main reasons why investors are backing $BTCETF
1) Gain Direct Exposure To SEC Bitcoin ETF Approval Before January
The primary goal behind Bitcoin ETF is to gain direct exposure to the Bitcoin spot ETF approval.
With Bloomberg analysts predicting a 90% chance of approval by January 10th, investors are rushing to find methods of capitalizing on this monumental opportunity in Bitcoin’s history.
The introduction of a Bitcoin spot ETF will open the doors to trillions of dollars worth of investment from institutional investors through a compliant trading option.
However, with the price of Bitcoin soaring toward $40,000 in recent weeks, many investors are looking for alternative vehicles to gain direct exposure as the returns from $BTC will be somewhat muted.
Bitcoin ETF is one of the perfect options as a low-risk alternative vehicle for gaining direct exposure to the event through the DeFi-based $BTCETF token.
2) Growth Linked to Real-World Predetermined Milestones
The project’s growth is directly linked to events related to the SEC approval, meaning it will appreciate the close the BTC ETF is to being approved.
The project incorporates a unique burning mechanism based on real-world milestones that will see the total supply of $BTCETF shrinking the closer the ETF is to arriving.
The team has set five distinguished milestones, and the smart contracts behind $BTCETF will burn 5% of the supply after each milestone is reached.
The milestones include the following:
- 24-hour trading volume in $BTCETF reaches $100 million
- SEC approves the first Bitcoin ETF in the US
- First Bitcoin ETF launches in the US
- Assets under management in Bitcoin ETFs reaches $1 billion
- Bitcoin price closes a daily candlestick above $100,000
As each milestone is reached, 5% of the supply will be burnt from circulation – creating a deflationary effect for the token.
Once all five milestones are reached, 25% of the total supply will be removed from circulation.
Furthermore, $BTCETF also incorporates a sales transaction tax that will burn a percentage of all market sales – creating an incentive for long-term holding.
Beginning at 5%, the sales tax will be reduced by 1% upon achieving each milestone.
Once all milestones are reached, the sales tax will disappear entirely.
3) Staking Mechanism Set to Create Supply Shock
The final reason investors are eagerly backing the $BTCETF token is that it also incorporates an intuitive staking mechanism, which can potentially create a supply shock in the market.
Staking $BTCETF tokens provides stakers with rewards for holding their tokens. Those currently staking are earning an impressive 120% APY on their holdings;
The act of staking locks tokens away, preventing them from being sold on the open market, potentially creating a supply shortage.
As a result, newcomers to $BTCETF might struggle to buy $BTCETF tokens at presale prices and will be forced to pay higher prices.
The staking ecosystem and the burning mechanism could potentially help $BTCETF achieve a 50x return from presale prices before the January 10th SEC approval.
Just Two Days Remaining at Current Prices
The presale continues to blaze through its milestones after crossing $2 million this week.
Investors are purchasing $BTCETF for $0.006 at this presale stage.
However, there’s a rising pricing strategy in place that means the cost of the token will increase in two days. Therefore, those getting positioned earlier benefit the most from the lower entry prices.
Overall, with its unique burning mechanism creating deflation, its staking mechanism creating a supply shortage, and the ability to gain direct exposure to the Bitcoin spot ETF approval – $BTCETF is setting itself up for an impressive 50x return over the coming weeks.
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