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Spot Bitcoin ETF Could Trigger a 155% BTC Explosion, According to CryptoQuant- Here's the Timeline

CryptoQuant, an on-chain data provider, predicts that the approval of a Bitcoin exchange-traded fund (ETF) by the SEC could cause the price of BTC to increase by over 150%. If Wall Street firms that have applied to issue a spot Bitcoin ETF allocate even a small fraction of their assets under management to BTC, billions of dollars could flow into the market and double the price of Bitcoin.

Financial giants such as BlackRock, VanEck, and Fidelity Investments are among those seeking to issue a spot Bitcoin ETF. Although approval is not expected this year, the probability of approval by the final deadline in March 2024 is increasing due to favorable court rulings for Grayscale and XRP in their legal battles against the SEC.

Bitcoin Bitcoin $97,436.06
+1.79%
ETF Bitcoin Bitcoin ETF
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