Do. Jun 13th, 2024

• The SEC is reviewing applications for Bitcoin ETFs, with companies like BlackRock looking to get involved in digital assets.
• Martin Bednall from Jacobi Asset Management believes the SEC might approve several applications at once to be fair and not show any favoritism.
• Long-term, the bullish narrative remains robust despite short-term macroeconomic uncertainties and inflation concerns.

Bitcoin ETF Applications

The US is excited about a potential Bitcoin ETF coming to market, especially with big companies like BlackRock getting involved in digital assets. Numerous applications have been submitted for approval by the SEC.

Avoiding Favoritism

Martin Bednall from Jacobi Asset Management believes that the SEC might approve several applications at once to be fair and avoid showing any favoritism. This way no one gets an unfair advantage over another, regardless of their size or reach.

Short-Term Uncertainty

In the short term it can be difficult to predict which direction Bitcoin’s price will go due to many external factors such as increasing interest rates and prices going up. However, longer term investors remain optimistic about hitting new all-time highs after next year’s halving event.

Bullish Narrative

Despite economic uncertainties and inflation concerns, a bullish narrative still surrounds Bitcoin in the long run. The four-year bull/bear cycle has been observed historically, making investors optimistic about its future potential growth.

Conclusion

The idea of a Bitcoin ETF coming to the US has generated a lot of excitement among crypto enthusiasts and investors alike. The SEC will likely review multiple applications all at once so that nobody gets an unfair advantage over another regardless of their size or reach in the industry. Despite macroeconomic uncertainties in the short term, there is still a strong bullish sentiment surrounding Bitcoin in the long run which could potentially lead it towards even higher heights than before!

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