Are We Expecting Too Much from Spot ETFs?
Hopes are high, but are they too high?
Crypto market participants are hyped up like spider monkeys full of Skittles and Mountain Dew.
They're bouncing off of the walls with the knowledge that spot ETF approvals for crypto’s largest assets (ETH and BTC) are imminent and on the hope that external investors are simply waiting in the wings to start deploying capital.
Indicative of the broader market’s bullish expectations for approval of spot crypto ETFs, analysts at legendary crypto investment firm Galaxy have predicted that approval of a spot BTC ETF will translate to $14.4B demand and should propel the price of BTC upwards by 74.1% within the first year alone!
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Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
