Summary:
The number of Bitcoin Spot ETF proposals are increasing this year despite the Bitcoin dominance on the crypto market decreased by 20% and the Bitcoin price is not crossing the $30,000 mark.
In the last month itself, the US SEC accepted 6 Bitcoin Spot ETF proposals submitted by popular asset management firms but had not yet made a decision on any of them. A few of these firms are BlackRock, Grayscale Investments, Fidelity Investments, Bitwise Asset Management, and VanEck.
Being the second-largest cryptocurrency, several firms are also eyeing on Ether to introduce its exchange-traded fund. We are about to see the first-ever Ethereum Futures ETF trading on Valkyrie in October this year having the approval of the US SEC. In addition, several other firms like Proshares, Volatility Shares, Bitwise have also applied for Ether ETFs.
Do you think it is better to invest in Bitcoin ETFs instead of investing directly in Bitcoin? What are the other credible cryptocurrencies that can have their own ETFs other than Ether? Join us as we find out answers to these questions and more about the Bitcoin Spot ETF market in 2023!
