# Is the ETF Overhyped?

*Author: Bankless*
*Published: Oct 25, 2023*
*Source: https://www.bankless.com/read/welcome-to-uptober-copy*

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    Is the ETF Overhyped?
  
  

  
  Published on Oct 25, 2023

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
    ETF Hype Intensifies
  
  

  

 

![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2023/10/Frame-50445--2-.png)- **💰 Crypto weighs ETF appetite. **Galaxy [believes](https://twitter.com/intangiblecoins/status/1716840402894881133) approval would pump $14B+ into BTC. Bears are weary after ETH futures numbers.
- **👨‍⚖️** **SBF testifies tomorrow**. SBF's criminal trial isn't looking good. Tomorrow, he takes to the stand. [We'll be watching closely](https://x.com/RyanSAdams/status/1717210947138314281?s=20).
- **😿 Emmer drops out. **Welp, Tom Emmer isn't the next Speaker. It's [Trump-backed](https://x.com/RyanSAdams/status/1716921549893292326?s=20) Mike Johnson, who has [an "unclear" stance on Crypto](https://www.coinbase.com/public-policy/legislative-portal/la/house/500AbrH2ap55gImmk01W47). [Alas](https://twitter.com/banklesshq/status/1717234727730794616?s=46&t=2SMKWt7-hlJuSdhYSlImeQ).

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      Prices updated at 4:00 pm ET
    
    
      24HR
    
  

  
    
       ![](https://bankless.com/assets/img/modNewsletter/cmc.png)
    
    
      **Crypto Market Cap**
      
        $1.27T
      
    
     
      
        ↗ 1.9%
      
    
  
  
    
      ![](https://bankless.com/assets/img/modNewsletter/btc.png)
    
    
      **Bitcoin**
      
        $34,710
      
    
     
      
        ↗ 2.8%
      
    
  
  
    
       ![](https://bankless.com/assets/img/modNewsletter/eth.png)
    
    
      **Ethereum**
      
        $1,788
      
    
     
      
        ↗ 0.7%
      
    
  

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**📈** **Why is Bitcoin up?** While most will say it's the spot ETF news, and Arthur Hayes [says](https://cryptohayes.medium.com/the-periphery-b72270639a70) 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
     
    ](https://twitter.com/JackInabinet)
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2023/10/spotbtc.png)](https://www.bankless.com/whats-up-with-the-bitcoin-spot-etf)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.

[Get the Full Rundown](https://www.bankless.com/whats-up-with-the-bitcoin-spot-etf)
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