The launch of a spot bitcoin exchange-traded fund (ETF) is imminent. And we’re starting to get an idea of what that would mean for bitcoin’s price…
Right now, the U.S. Securities and Exchange Commission (SEC) is reviewing nearly a dozen spot bitcoin ETF applications.
The names attached to them include Wall Street titans like BlackRock and Fidelity.
The deadline for the SEC to decide on the next batch of applications is January 1. So we could see a spot bitcoin ETF come to market soon.
Here’s why you want to position yourself now…
Blockchain data firm Glassnode estimates that up to $70 billion in new capital could flow into bitcoin after the approval of a spot bitcoin ETF.
That projection assumes 10% of the money currently invested in major stock and bond ETFs would shift to a bitcoin ETF… along with 5% of capital allocated to gold ETFs.
Bitcoin’s current market cap is about $750 billion. So a spot bitcoin ETF has the potential to immediately boost its value about 10%.
But that’s just the tip of the iceberg…
Strategists at Bank of America estimate that institutional flows into bitcoin can move its price more than it would some other assets.
That means bigger investments into bitcoin could move its price significantly.
For instance, the strategists estimate a net inflow into bitcoin of just $93 million would result in price appreciation of 1%.
Of course, any estimate must account for prevailing market conditions. So you’d have to account for factors like interest rates and inflation.
But let’s assume, under certain conditions, a $93 million inflow could move the price 1%. What would a tidal wave of $70 billion do?
That’s why Daily editor Teeka Tiwari says bitcoin offers the single best risk/reward scenario of all the assets in his investment portfolio.
And while approval of a spot ETF would be huge for bitcoin…
Teeka believe there’s another venture scheduled to launch by the end of this year that could be orders of magnitude bigger.
You see, although a spot bitcoin ETF will be a major boost for the crypto asset class… It’ll primarily impact bitcoin.
According to Teeka, this other catalyst could potentially unleash a $100 trillion opportunity he calls Crypto’s Third Wave.
That’s because this new trend could transform the entire financial markets… and impact every single 401(k) and retirement account in the United States.
On Wednesday, December 6, at 8 p.m. ET, Teeka will explain what this venture is… reveal who’s behind it… and share details of five altcoins that have the potential to ride this wave to triple- or quadruple-digit gains.
As a bonus, he’ll also give you the name of a coin that could potentially 8x your money during the Third Wave… completely free of charge.
You can reserve your seat right here.
And if you upgrade to VIP status, we’ll send you a free bonus: a special report called The $0.50 AI Coin That Could Triple Your Money in 2024.
This coin is part of a new breed of cryptos called artificial intelligence (AI) tokens.
According to consultant firm PwC Global, AI is the largest megatrend of our generation… And it estimates it will create $15.7 trillion in new wealth.
As a VIP, you’ll also receive complimentary text alerts about this event to make sure you don’t miss our strategy session.
To upgrade, it’s very easy and free. Click here to learn more.
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Regards,
Chaka Ferguson
Editorial Director, Palm Beach Daily