The biggest asset managers in the world have applied for a spot ETF. BlackRock, Vanguard, Fidelity etc have all asked the SEC for approval. Think about this for a moment. This isn’t an off the cuff application by these firms. They don’t operate that way. They’ve done a lot of research into Bitcoin, obviously. These companies manage trillions of dollars, they’re not about to fomo into anything. And they didn’t apply for an ETH or a Doge ETF. They have it figured out. They understand risk/reward management. A spot Bitcoin ETF in a portfolio the size these firms handle is going to be large. Are they buying Bitcoin now? We can’t be sure, but they will have to custody Bitcoin in order to offer it in an ETF. That we do know. This will increase the demand for Bitcoin. The timing of the applications is interesting. The daily supply will be reduced next April with the reduction of the block rewards down to 3.125 BTC per block. Lower supply, more demand. That only means one thing. Higher prices for an asset that is more scarce. I’m not taking for granted these applications nor the timing of them. I don’t think anyone should. If the big players are entering the game, it’s worth paying attention to.
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