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Spot Bitcoin ETF Approval To Trigger ‘Enormous Inflows,’ Reckless Not To `Aggressively Accumulate BTC,’ Report Says

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Spot Bitcoin ETF
Spot Bitcoin ETF

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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.

“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.”


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.

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.

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