Taylor Swift Concerts and BTC ETFs Have This in Common
TL;DR
-
Friday was the ultimate date the SEC needed to make their choice on ARK Make investments’s ARK 21Shares Bitcoin spot ETF software.
-
However as a substitute of constructing a remaining choice, as a substitute they mentioned they wanted extra time earlier than approving, or scrapping, the applying.
-
Whereas it wasn’t the result we had been hoping for, it isn’t the worst case state of affairs both. Now, again to the ready recreation.
Full Story
Image this:
You scored Taylor Swift tickets.
You might have your outfit all able to go.
You have been ready months for this live performance.
Then the magical day lastly comes and…
The live performance is postponed.
that feeling of frustration, blended with disappointment, but additionally a form of deranged happiness that it’s important to do ‘the wait’ once more?
That is how we’re feeling as we speak.
As a result of Friday was our equal of most individuals’s ‘Taylor Swift Eras Tour.’
It was the ultimate date the SEC needed to make their choice on ARK Make investments’s ARK 21Shares Bitcoin spot ETF software.
However as a substitute of constructing a remaining choice, as a substitute they mentioned they wanted extra time earlier than approving, or scrapping, the applying.
We have written about BTC ETFs a number of occasions not too long ago (like right here and right here).
If you do not have time to learn these articles 👆…
This is why we’re a bit bummed about this postponement:
-
When (not ‘if,’ in our humble opinion) a BTC spot ETF is permitted within the US, it is prone to deliver a flurry of institutional funding into the house. Establishments have huge {dollars}, and extra demand is prone to end in a rise in BTC’s worth.
-
A spot ETF (like ‘ARKB’ that has been proposed) goes to make it simpler than ever to spend money on BTC (form of) with out all the trouble of studying about wallets and safety.
-
The approval of a BTC spot ETF would really legitimize the Web3 house. It could result in extra BTC spot ETFs (and possibly even different cryptocurrencies too).
Whereas it wasn’t the result we had been hoping for, it isn’t the worst case state of affairs both.
Now, again to the ready recreation.
