An approved spot bitcoin ETF could be ‘one of the largest launches in history’
Bitcoin स्वीकृत स्पॉट बिटकॉइन ईटीएफ इतिहास के सबसे बड़े लॉन्चों में से एक हो सकता है बिटकॉइन एथेरियम समाचार Though prospects for a spot bitcoin ETF hitting the US market remain uncertain, industry watchers say an SEC-approved launch would likely be among the largest ever. Spot bitcoin products could spur investors to re-allocate billions of dollars from Grayscale Investments Bitcoin Trust (GBTC), Canadian bitcoin ETFs and other crypto offerings. Bloomberg Intelligence analyst James Seyffart said during a July 5 ETF Prime podcast — hosted by Nate Geraci, president of The ETF Store — that a spot bitcoin ETF “could be the largest, if not one of the largest, launches in history.” Excluding climate-focused ETFs that have launched with ample seed capital, which Seyffart said dont truly exhibit “grassroots demand,” the ProShares Bitcoin Strategy ETF (BITO) was among the most successful out of the gate. The fund — which launched in October 2021 and holds bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME) — grew to more than $1 billion in assets under management in its first two days. But a physically backed ETF meets a greater number of due diligence requirements than BITO, according to James Butterfill, head of research at CoinShares — as it provides