There are many spot etfs in many countries already this is nothing new. I think somewhere in Europe there was a bitcoin etf from maybe 5 years back.
USA and the sec is the only country pretty much that refuses to launch one and we don’t know why. Look at how many stocks go bankrupt like Bed bath and beyond and they head to $0 while they think that bitcoin network might stall and the etf will go to $0, highly unlikely.
In many countries? How many and what are these countries? I am quite certain that there are not many countries offering spot ETFs for bitcoin or other cryptocoins. Also, if it is a spot ETF in a developing country with a small market, we can also be quite certain that it will not have effect on the whole market.
On Bed Bath and Beyond, you cannot compare hehehe. I do not know the story but the stock goes to 0 because the company behind the stock went bankrupt and if a company goes bankrupt, they are ordered to delist their stock from the stock market.
In an case, back on topic, can the data on the take up on futures ETF be used as precedent for how much the take might be for the spot ETF?
More than 1 is many. And I think Bitcoin spot ETFs are already offered in certain countries like USA's neighbor Canada, and in Switzerland and Germany in Europe, in Brazil in South America, and in Australia as well, and other countries in the whole world. And these are developed countries as well.
Futures ETF cannot be used as a precedent because it doesn't offer 100% exposure to Bitcoin. Spot ETFs are backed by Bitcoin itself. That's the kind of exposure offered by a Bitcoin spot ETF. And also futures are expensive to maintain compared to spot ETF.
The numbers in countries where both Bitcoin futures and spot ETFs are available are proof that spot ETF is much more in demand than futures.