Is the ETF Overhyped? $

gm Bankless Nation, the excitement for a possible spot BTC ETF approval is getting feverish.
Bankless Bankless Oct 25, 20233 min read
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Is the ETF Overhyped? $
Is the ETF Overhyped?
Published on Oct 25, 2023
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NEED TO KNOW
ETF Hype Intensifies
  1. 💰 Crypto weighs ETF appetite. Galaxy believes approval would pump $14B+ into BTC. Bears are weary after ETH futures numbers.
  2. 👨‍⚖️ SBF testifies tomorrow. SBF's criminal trial isn't looking good. Tomorrow, he takes to the stand. We'll be watching closely.
  3. 😿 Emmer drops out. Welp, Tom Emmer isn't the next Speaker. It's Trump-backed Mike Johnson, who has an "unclear" stance on Crypto. Alas.

Prices updated at 4:00 pm ET 24HR
Crypto Market Cap $1.27T ↗ 1.9%
Bitcoin $34,710 ↗ 2.8%
Ethereum $1,788 ↗ 0.7%

📈 Why is Bitcoin up? While most will say it's the spot ETF news, and Arthur Hayes says it's war-driven money printing, we have a simpler explanation – it's time.

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ANALYSIS
What's Up with Spot BTC ETFs?
Bankless Author: Jack Inabinet

This week's stellar market momentum has largely been tied to enthusiasm around the hopeful imminent approval of a spot Bitcoin ETF, but why do we think this is happening? Today, in our latest article, we unpack the saga and get you up to date!

Why this matters:

Crypto has always been bullish around news of traditional finance embracing crypto assets. It's a sign of greater adoption and, yes, can push up prices! There was a ton of activity around the gloriously timed release of the BTC futures ETF, so crypto investors hope a spot ETF could trigger new interest from new investors.


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