Changing Views As Experts Don’t Expect ‘Sell the News’ for Bitcoin After ETF Approval

The post Changing Views As Experts Don’t Expect ‘Sell the News’ for Bitcoin After ETF Approval appeared first on Coinpedia Fintech News

In the middle of all the excitement about the upcoming decision on the Bitcoin exchange-traded fund (ETF), people in the crypto world are having lively talks about what it could mean for Bitcoin. The spotlight is on ARK 21Shares, eagerly waiting for the SEC’s decision set to come out on Wednesday.

Sell the News – Won’t Be The Case

The United States Securities and Exchange Commission’s (SEC) verdict on ARK 21Shares’ spot Bitcoin ETF application has led many analysts to express their enthusiasm on social media platforms, particularly X (formerly Twitter), which is becoming a platform for crypto enthusiasts and analysts to discuss the potential aftermath. As the deadline approaches on January 10, these talks are becoming more intense and a big deal in the crypto community

Meanwhile, in a recent post, analyst Alex Becker is shaking things up by saying that if the SEC says yes to a Bitcoin ETF, it won’t just be a “Sell the news” moment. Instead, he thinks it could make Bitcoin more available to more people, especially those with a lot of money who might not have wanted to get into crypto the usual way.

The reason the ETF is not a sell the news event is simple.

Self custody.

Say you’re a retiree, pension fund, financial manager.

Most people (including me) don’t feel comfortable self custodying millions (or tens).

There’s no way they are just gonna leave their money on say…

— Alex Becker (@ZssBecker) January 7, 2024

As reported by Coinpedia, Bitcoin’s current price stands at $44,039, setting the stage for potential market shifts based on the SEC’s decision.

Debates Over Bitcoin ETF Approval 

In the midst of these discussions, industry experts and market analysts are weighing in on the potential outcomes. Swan Bitcoin’s engineering lead, Dan Webb, delves into risk-reward considerations for those shorting Bitcoin, emphasizing the potential upside in the face of positive news compared to the downside risk.

Adding another layer to the conversation, Mati Greenspan, Founder and CEO of Quantum Economics, shares his insight. Greenspan speculates on SEC Chair Gary Gensler’s likely cautious approach, suggesting a reluctance to greenlight any crypto-related ETF to align decisions with the interests of traditional financial institutions.