Spot ETF: Just A Catalyst To The Bull Run?
A lot of crypto enthusiasts are talking about the spot ETFs as the major forerunner to the bull run, and this isn't only rational, it's also a sentiment expectation to key into the believability that something key must drive the bull run. It's what it is. Inasmuch as crypto is a sentimental investment; facts, figures, occurrences, and key moments must happen for people to see that the ball is rolling.
This was the same sentiment when we had deFi and NFT in the last bull run, inasmuch as these previous key occurrences to the last bull run were instrumental, we don't seem to see them as as industries in crypto that will progressively flourish, as they haven't lived up to their expectations. It's quite humongous how we've gone from deFi and NFT to waiting for the spot ETF, it makes you wonder if the ETF will be an industry that's going to be explorable and relevant for a long period or only become a temporary cataclysmic event to the bull run alone.
I think one will have to structurally dissect the ETF, the reasons, and the potentially functionally to know if it's going to be a niche in crypto that will create further diversity. If you ask me, I think the coming bull run will do its thing. The dilly-dallying between the SEC and Blackrock is not something you can really place a bet on. From what I know, Gensler is still anti-crypto and will always remain so, even if he plays a role in approving the ETFs. This makes it even more herculean.
To be honest, the news about the approval of the ETF is still not clear, blogs and crypto influencers are majorly creating anticipative posts and cooking well-crafted captions to create extra monetizable income for their Twitter accounts. So far we've been hearing of an amendment for the past two weeks, and I don't think there's been anything concrete.
This doesn't mean Blackrock is working tirelessly, I just feel that even if this approval thing lingers till the end of the first quarter, crypto will still do its thing. This isn't to underestimate the impact of the spot ETFs, I'm just thinking about it's the potency of its potential mainstay in the long run. Will it be a niche in Crypto that drives visibility in a welcomed fashion or just be a catalyst in the next bull run?
I don't know about this.
For now, most bull run lunatics raving about a potential 250k BTC by December 2024 are seeing the ETFs as an event to push the bull run and not looking more. Gensler and co know this, so wouldn't it be practical for them to delay the approval, since people are waiting on it to see if it'll herald the bull run?
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I was reading some analysis earlier about a review of the grayscale ETF application and it was really sketchy. The people who invest in it do not get like for like when it comes to money in and getting bitcoin which has never happened before for an ETF. They theoretically could get the asset they invest in (do you think if someone invests in a gold ETF they are getting gold if they need to? I highly doubt it lol) and it’s acknowledged as a considerable risk. This will be a loophole that’s going to be wielded by the technical people to the maximum for sure and a lot of people are going to get decimated by it.
I don’t think this ETF is going to be an overall net positive for the crypto industry. We need to be leaving the old relic behind and forging a new path, not connecting to their shit
Well, exactly what I feel too. But one thing about the cryptosphere is that a lot of people are not really keying into the rhetorics, neither do they really want to take the time to know what the spot ETFs are, they just hear it's the next big thing in crypto and that's it.
I'm hoping to really see how it goes,but like you, I just crypto might just be able to do it's thing, even if this wasn't here.
I think gauging from the different sentiments that people have about Bitcoin ETFs, the outcome once it gets approved may be quite different from what many people expect. I'm hoping that its impact or influence on crypto to be minimal, especially in the long term.
I don't know, it's just beginning to get a bit shady with the spot ETFs. No one can really say what Gensler and the SEC is doing with Blackrock
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Every bull run is different, and so I don't think we can safely look at the last one to really predict the next one. Blackrock is definitely going to play a factor, and if the SEC finally decides to play ball it could get interesting. I'm optimistic but the forty thousand is looking like it's going to hold, for now anyway. Let's cross our fingers as we could all use some luck!
How are you holding up?
I want to really know the role Blackrock will play, because the buzz is much, I like to see if it'll hold up play. I want to also know if this is going to be just a thing of the bull market or it'll finally come to stay in crypto, my arms are folded.
As for me, well. I'm here, still struggling with the thoughts of my diagnosis and what my next course of action will be. I couldn't come here yesterday... So.
Keep hanging in there! Sounds like you're trying to focus on some other things which is a great idea. Especially if there's little you can do until next month.
I think we're all just waiting to see what really comes of this Blackstone deal.
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To be sincere, most of these crypto terminologies sounds new to me and difficult to understand. But one thing I know is that the bull run is coming soon, although the time isn't assured and I am Patiently waiting to experience what it looks like
Good morning big Joe
Well, learning is everything. Constant exposure and alignment helps one understand some intricate part of the cryptosphere and everything.
Right, I'm also patently waiting
This is going to be an interesting development for the future. I'm wondering if once they are announced there will be another push up and then all those buying now start selling and cause a crash
I think that people are waiting for some grand predictions to happen before they'll start selling. I don't envisage a crash for now, except corrections here and there.
I still think the ETF approval is bound to happen. Gensler can delay things but I do agree that it can be delayed quite a bit. After all, Gensler won't always be around to push his agenda and I am sure the pressure is getting larger. The ETF is still somewhat required given the difficulty of entering crypto right now.
This is a good thing to know, it's relevance to the crypto space is relevant and very important. This is why I was asking if people are just seeing the spot ETFs as a marker for the bull market or if it'll maintain any relevance after that.
Too many aiming for the stars not firmly grounded at all. New is not always better for the people, like 15 minute cities, imagine in a disaster. People must start questioning!
Well, it's our nature, provided the ETFs brings the bull run
Wouldn't mind a bull run either, always cautious what you dive into. !LOLZ
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This is my first time hearing about Blackrock again ooh
Wahala plenty for this crypto😂
I love the way you write
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That's exactly what we've seen for months now and people are putting money into the market because of that, but we have to take care of all the things if we're going to make a good profit. Profit should be taken because it has happened many times when the market falls too much on the news, we should take profit to avoid this.