1/ The indicators that a Bitcoin ETF approval will occur in Q4 2021 are intensifying.
Is the ETF already driving $BTC’s upwards momentum in October?
Let’s take a look 👇
2/ Both opinion leaders in the innovation camp @RaoulGMI & @CathieDWood have signaled that they are expecting a $BTC ETF to happen within 2021
@CoinDesk is speculating it could happen even within weeks:
3/ The SEC itself remains hesitant towards approving ETFs
However, at this point an ETF can no longer be denied based on rational criteria – it is just a matter of time for the #bitcoin ETF
Even if a future contract based ETF will be approved first the outcome remains bullish
4/ Besides the ETF the number of traditional banks and stock brokers who are launching crypto is mind blowing.
Let’s take a look at Germany’s @TradeRepublicDE – their support page indicates that they will enable their 1m+ customers to trade with crypto soon
5/ In the mean time other fintech companies such as @RevolutApp are enabling crypto transactions already for years – and the revenue associated with cryptocurrencies is becoming a substantial share of total revenues
6/ Nevertheless, the baby boomer generation is requesting an ETF that they can buy through their brick & mortar bank.
The registration + UX/UI of @coinbase & @krakenfx is still too complicated/risky for them to handle.
If an ETF is about to happen fasten your seat belts 🚀
7/ In the mean time in countries like Canada, Switzerland & Germany $BTC & $ETH ETFs are already approved.
Nevertheless the US remains by far the dominant market by size – just compare the total stock market capitalization:
US – S&P 500: 36 tn
Germany – DAX40: <2 tn
8/ This means only a US ETF can move the market substantially.
So, if an ETF were eventually to be approved what could we expect?
In March 2003 the first Gold ETF was approved. what followed was a 8 years+ bull market for Gold that took Gold more than 400% higher
9/ Does this mean that $BTC will go on an 8 year bull market?
Almost certainly not. Bitcoin and crypto move much faster than every other industry in history.
Therefore most of the gains are to be expected in the months immediately after the US ETF approval🚀