While the SEC's approval of spot Bitcoin ETFs last week continued to be a hot topic in the market, an ETF comment came from BitMEX former CEO Arthur Hayes.
Hayes, who wrote an article evaluating Spot Bitocin ETFs and their impact on the market, argued that ETFs could open a number of trading avenues centered on arbitrage, options and financing.
Pointing out that ETFs create fluctuations in the BTC price, the famous name said that this situation can open new trading opportunities for investors and allow investors to make profits.
“Bitcoin is a global market and price discovery occurs mainly through Binance.
For the first time in a long time, I think Bitcoin markets will have a predictable and long-term arbitrage opportunity.
At this point we expect billions of dollars in flows to concentrate on exchanges that are less liquid and have larger Eastern rivals within the hour. “I expect interesting spot arbitrage opportunities to exist.”
Stating that he expects spot Bitcoin ETFs to emerge in major Asian markets serving the “south of China” such as Hong Kong, after the USA, Hayes stated that the ETF-based sector is ready to grow as Bitcoin trading becomes widespread in the coming years.
Finally, Arthur Hayes, who also announced the price forecast for Bitocin, stated that he expects a decline in Bitcoin in the short term and that he expects a 30% correction in prices, and that he expects a rise in BTC in the long term, adding that “the bull market is just beginning.” said.
— Arthur Hayes (@CryptoHayes) January 15, 2024
*This is not investment advice.