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[Market Update] Aftermath of spot bitcoin etf
CoinTelegraph
sent this email to their subscribers on January 22, 2024.
Dear Reader,
Who would have thought that one day Bitcoin would trade on major United States stock exchanges?
But here we are.
After more than a decade of pushing and prodding the SEC…
Bitcoin is trading in the form of an exchange-traded fund.
What does this mean for the crypto market?
John Nahas of Ava Labs told Cointelegraph…
“I believe SEC approval will cement Bitcoin’s reputation.”
He went on to explain that, in his view, this development will bring Bitcoin and crypto to the masses at a much faster rate and on a much grander scale.
Bitcoin will soon lose its “exotic” label.
And be embraced by traditional financial investors.
The effects of a spot Bitcoin ETF can already be felt in the market.
Remember, as Bitcoin goes, so do Altcoins.
Since the ETF approval about a week-and-a-half ago…