Spot Bitcoin ETF Approval To Trigger ‘Enormous Inflows,’ Reckless Not To `Aggressively Accumulate BTC,’ Report Says ByNancy LubalePRO INVESTOR Updated: 06 September 2023 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Join Our Telegram channel to stay up to date on breaking news coverage Approval of spot Bitcoin exchange-traded funds (ETFS) will trigger ‘enormous inflows’ and it’s thus reckless of investors not to `aggressively accumulate BTC’ at current prices. That’s the view of crypto research firm K33, which said in a Sept. 5 report that markets are vastly underestimating the impact of approval of the investment vehicles. Although the likelihood of the Securities and Exchange Commission (SEC) approving spot Bitcoin ETFs has significantly increased with Grayscale‘s landmark legal win against the SEC last week, K33 senior analysts Vetle Lunde and vice president Anders Helseth say that’s not reflected in crypto asset prices. Bitcoin’s price has actually dropped despite GrayScale’s win. “It’s reckless not to aggressively accumulate BTC at current levels”@VetleLunde , Senior Analyst at K33, discusses how the crypto market dramatically underestimates the bullishness of spot bitcoin ETFs in our latest weekly research report. Yesterday's media coverage 👇 pic.twitter.com/D06cOkxjIk — K33 (@K33HQ) September 6, 2023 “The market is wrong,” they said. “This is, by all accounts, a buyer’s market, and it’s reckless not to aggressively accumulate BTC at current levels.” NEW: @JSeyff & I are upping our odds to 75% of spot bitcoin ETFs launching this yr (95% by end of '24). While we factored Grayscale win into our prev 65% odds, the unanimity & decisiveness of ruling was beyond expectations and leaves SEC w "very little wiggle room" via @NYCStein pic.twitter.com/IyEGmWjuHa — Eric Balchunas (@EricBalchunas) August 30, 2023 Lunde and Helseth also expressed confidence in the price of Ether, predicting it is likely to outperform Bitcoin over the next two months. The duo attributed the rise to the strong momentum leading up to the listing of a futures-based ETFs. The analysts believe that Ether may follow in the footsteps of Bitcoin, which increased in value by almost 60% in the weeks before the first Bitcoin futures-based ETF was launched in October 2021. A futures-based Ether ETF that is expected to receive approval from the SEC is set for a discussion and decision around the middle of October. October Shaping Up As Pivotal Month for Bitcoin ETFs, Crypto October is a pivotal month for the future of crypto. In addition to ProShares futures-based Ether ETF that’s expected to launch in the middle of month, the SEC’s deadline to provide a decision on the status of seven spot Bitcoin ETFs was also extended to around the same time. NEXT DATES TO WATCH: Middle of October are the next major days to watch. Namely October 16th. (& @GlobalXETFs' Oct 7) Also, reminder that we fully expected delays on this round of spot #Bitcoin ETF filings. Would have been a shock if they were approved this week. pic.twitter.com/i14fg8FWun — James Seyffart (@JSeyff) August 31, 2023 The same month could also see the launch of an Ether futures ETF by Fund company Valkyrie, which asked in a filing on Aug. 4 to modify its bitcoin futures ETF to one that also owns Ether futures. Bitwise also aims to add Ether into its Bitcoin Strategy Optimum Roll ETF (BITC) and rename it the Bitwise Bitcoin and Ethereum Equal Weight Strategy ETF. That may launch on Oct. 9. Related Articles Grayscale Urges SEC to Approve Spot Bitcoin ETF `Quickly,’ Warns Delay Is Inflicting ‘Unjustified Harm’ On Investors Latest Meme Coin Sonik Secures $1.75 Million; Prepare for Claim and Listing on Thursday at 9 AM UTC Crypto and Tech Investing ‘The Only Way’ To Escape Collapsing American Dream, Former Goldman Sachs Executive Says New Crypto Mining Platform - Bitcoin Minetrix Rating Audited By Coinsult Decentralized, Secure Cloud Mining Earn Free Bitcoin Daily Native Token On Presale Now - BTCMTX Staking Rewards - Over 100% APY Learn More Join Our Telegram channel to stay up to date on breaking news coverage