Market Reviews

Bitcoin is waiting for new blood



Founder and managing partner of venture capital firm Morgan Creek, Anthony Pompliano, believes that if the spot BTC-ETF is approved, it will attract $300 billion to the market.

Industry leaders and experts are weighing the implications of the U.S. Securities and Exchange Commission’s (SEC) possible approval of a spot Bitcoin exchange-traded fund (ETF). Among the biggest proponents of this development is Morgan Creek Capital CEO Mark Yusko, who predicts the approval could be the catalyst for a huge influx of capital into the leading cryptocurrency.

According to Yusko, the green light for a spot ETF could result in $300 billion being funneled into Bitcoin. This forecast highlights the transformative potential of a spot ETF that has long been anticipated by the crypto community. Such approval would simplify the process of investing in Bitcoin, making it more accessible to a wider range of investors, both institutional and retail. ETFs are investment funds traded on stock exchanges, just like stocks. A Bitcoin spot ETF will essentially track the actual price of Bitcoin, allowing investors to buy the cryptocurrency without having to deal with the intricacies of buying and holding it directly.