Financial experts and theorists say ETFs can have the same if not BIGGER effect on BC price than futures, which can send BTC soaring to 20k and beyond!
Do you guys belief this hype? Will the be the catalyst that sends crypto soaring with institutional money? What are your opinions?
Its said that millions of dollars would be poured into bitcoin if ETF gets approved.Even if bitcoin price reaches its previous ATH of 20,000 which was due to bitcoin futures,that would be considered as a great achievement after a long struggle.
maybe in the long run that happens because SEC approving ETF may mean like an approval of bitcoin which can change the minds of many investors and average Joes about bitcoin and put an end to majority of FUDs.
but just because they accept some ETF it doesn't mean millions of dollars is just going to be poured into bitcoin! even the ETF itself has already bought the coins required for it to be traded so that money is already in and people investing in ETF are not investing in bitcoin, they are buying that ETF which won't change bitcoin price at all.