US Bitcoin ETF Approval to Start Global BTC Buying Frenzy, Says CryptoQuant CEO – fr

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US Bitcoin ETF Approval to Start Global BTC Buying Frenzy, Says CryptoQuant CEO – fr


The chief executive of crypto intelligence firm CryptoQuant believes that a wall of money will likely enter the crypto markets as soon as a U.S. exchange-traded fund (ETF) is approved.

In a new tweet, Ki Young Ju tells his 156,000 followers that he sees the global FOMO (fear of missing out) event once the United States turns a Bitcoin ETF green.

“Imagine when [the] The United States Securities and Exchange Commission (SEC) approves Bitcoin ETFs. US enthusiasts like Korea will endorse Bitcoin ETFs, more global institutions will buy BTC, and more global financial services will launch Bitcoin funds. How [will the] BTC price then? The bull market may last longer than we thought. “

The first BTC exchange-traded fund could come in as early as next month after the SEC pushed back the VanEck Bitcoin ETF’s approval or disapproval deadline from May 3 to June 17, which is a 45-day extension.

“The Commission considers it appropriate to designate a longer period of time to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received.”

As the SEC continues to deliberate, other countries are jumping on the bandwagon. In February, the Purpose Bitcoin ETF, the first of its kind in North America, debuted on the Toronto Stock Exchange. A month later, Brazilian digital asset manager QR Capital received approval to launch the first Bitcoin ETF in Latin America.
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Image en vedette: Shutterstock / JR Moreira



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