Recently, the cryptocurrency market, and bitcoin in particular, has been storming with the information that a spot bitcoin-ETF can dramatically affect the exchange rate!
Let's get into why this is happening and what this bitcoin-ETF really is today. Let's go!
Basically, a spot BTC-ETF is a security that confirms the right of its owner to a part of the fund's assets.
A spot BTC-ETF is a fund that invests directly in bitcoin, but does not require wallet registration and self-storage of the cryptocurrency.
Interesting fact: some speculators even asked ChatGPT if BTC will rise to $100k after the bitcoin ETF is approved?
The popular chatbot stated that it depends on a lot of factors whether bitcoin will reach $100,000 after the SEC approves the BTC spot ETF
What do you think, will the bitcoin exchange rate soar due to the emergence of the bitcoin-ETF idea?