The first ETF in Bitcoin in cash from Europe is ready for launch, while the anticipation grows in the USA by the approval of an Fpublicly traded fund similar.
Jacobi Asset Management is the company responsible for the listing of the ETF, which was actually approved in 2021. However, the release was delayed due to market conditions in 2022. Although there is no official release date yet, development comes at an opportune time.
The ETF is designed to provide investors the opportunity to gain exposure to Bitcoin without directly owning the underlying asset. By offering an easily accessible and regulated investment vehicle, the BTC spot ETF has the potential to attract to a wider range of investors institutional.
The delay in the launch of the European Spot Bitcoin ETF has only done raise market expectations. Investors eagerly awaited a regulatory green light that would allow them to access the BTC market with the convenience and security of an ETF structure. Now, with the imminent arrival of Europe’s first spot Bitcoin ETF, many believe it could herald a new era for bitcoin in the region.
Simultaneously, the US has witnessed a surge in interest for a spot Bitcoin ETF following the recent filing of BlackRock. As one of the largest asset management companies in the world, BlackRock’s entry points to a significant shift in sentiment towards cryptocurrency. In fact, other similar large companies subsequently introduced spot bitcoin ETFs.
The filing indicates that even traditional financial institutions are recognizing the growing demand for regulated exposure to Bitcoin. If approved, a spot bitcoin ETF in the US could provide a significant boost to the market, attracting institutional investors and making bitcoin more mainstream.
Overall, the launch of Europe’s first spot bitcoin ETF is a major milestone for the cryptocurrency market. It is a sign of the growing acceptance of bitcoin by traditional financial institutions and could lead to increased institutional investment in the market. This could have a positive impact on the bitcoin price and could help the coin achieve more mainstream adoption.
Bitcoin: price prediction
From a technical point of view, Bitcoin achieved immediate support around the level of the $30,000 which also acts as a fundamental level of psychological support. This Monday, July 17, the largest cryptocurrency by market capitalization is listed on the $30,089.39.
However, it should be noted that the 50-period exponential moving average around the $30,400 could resist
If Bitcoin consolidates between the his$30,400 and the $30,000It is possible that we do not see a significant movement of the price. A break above $30,400 could expose Bitcoin to levels around $30,900 or even $31,500.
On the other hand, a bearish break below the level of $30,000 it could push the price of Bitcoin towards the $29,500 level.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
