The market for a possible spot Bitcoin (BTC) ETF has the potential to grow to a value of $100 billion, according to Bloomberg Intelligence estimates.
On Galaxy Digital's conference call this month, 300 investment professionals discussed how to position themselves for Bitcoin as a spot Bitcoin ETF is about to launch.
Jeff Janson, a wealth advisor in Naples, is among those preparing for the debut. He's already received calls from investors young and old. “I feel like right now we're on the verge of the SEC finally approving it,” Janson said in an interview.
“And my belief is that when you have access to that in this type of package, you're going to see a significant amount of enterprise-level traction.”
Bloomberg analysts said in their articles that there is a 90% probability that the SEC will approve a spot ETF before January 10, 2024. However, it is thought that the approval of Ethereum spot ETFs will also strengthen following the approval of Bitcoin spot ETF.
It was recently reported that the SEC is actively negotiating with companies that have applied for ETFs.
*This is not investment advice.