Crypto influencer crypto rover, who has nearly 600,000 X (Twitter) followers, predicted today that Bitcoin will likely see a major price pump after the SEC approves a spot Bitcoin ETF.
According to crypto rover, there are currently 12 applications for a Bitcoin spot ETF before the SEC. The expectation is that the SEC will approve all 12 simultaneously rather than just one, to avoid giving any issuer an advantage over others.
Once approved, the issuers of these Bitcoin ETFs are expected to engage in massive marketing campaigns to attract capital into their particular ETF. Crypto rover explains that ETFs with higher trading volumes typically have lower fees, so issuers want to build the largest ETF possible.
The marketing extravaganza from all 12 issuers competing for capital is likely to generate huge hype and FOMO around Bitcoin, sending prices surging upwards.
Crypto rover points to BlackRock CEO Larry Fink’s recent TV appearances promoting their future Bitcoin ETF as an example of the major marketing initiatives to come from Wall Street and institutional investors.
In summary, if crypto rover’s prediction proves accurate, the approval of Bitcoin spot ETFs is likely to kick off an intense marketing war between issuers, ultimately leading to a major pump in Bitcoin prices as mainstream investment pours into these new SEC-approved products. The launch of Bitcoin ETFs may prove to be an inflection point that propels crypto assets into the mainstream.
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