What is known about the spot bitcoin ETF
Last week, several companies sent an application for a spot bitcoin-EFT. We are talking about Fidelity, Valkyrie, Invesco and Wisdom Tree. The applications were sent to the SEC office. Some experts believe that because of this, the price of the first cryptocurrency has soared. Its cost at the moment was more than 30 thousand dollars.
One of the founders of the Gemini crypto exchange said that institutions and retail investors have started a struggle to accumulate Bitcoin.
He believes that the purchase of the first digital coin before the spot ETF enters the public market becomes similar to the purchase before the first public offering. He also added that the possibilities of purchasing bitcoin are closing fast.
Michael Sailor from MicroStrategy also expressed his opinion. He published a post in which he said that retail investors will soon be pushed aside as institutional demand grows. Note that at the moment the cost of bitcoin is $ 30,055 per coin.