Bitcoin’s Big ETF News, Plus What Comes Next

by Beth Canova
By Beth Canova

Sitting on the other side of the spot Bitcoin (BTC, “A-”) ETF decision makes it easy to forget that it wasn’t an easy journey.

Especially when dealing with hostile regulators in the Securities and Exchange Commission.

Earlier this week, there was still doubt from many experts, especially those on the TradFi side.

According to a recent Zacks poll, only 39% of financial advisors believed a spot Bitcoin ETF would be approved in 2024.

Remember, that’s despite Bloomberg's senior ETF analyst Eric Balchunas raising his confidence of a Bitcoin ETF approval to 95% as of Monday.

So, how did our team keep our cool — and help you do the same — despite the naysayers?

By breaking down the data and sticking to it.

Big Week for Bitcoin’s Spot ETF

On Monday, Marija Matić broke down the facts fueling her optimism that the week would indeed see the long-awaited approval. But she also included a warning: It’s easy to let optimism run away from us. As investors, sticking to our strategy based on what the hard data is telling you is critical, even when the rest of the market is swept away by the excitement.

Top 3 Trends to Lead Crypto in 2024

The spot ETF approval isn’t the finish line — it’s only the first leg of this marathon of a bull market. That’s why Dr. Bruce Ng used this chance to look ahead, at the narratives most likely to take the spotlight once the fanfare around the ETF approval fades.

Since narratives lead investor sentiment and price action in a bull market, targeting which sectors will benefit will help you narrow down what promising opportunities to target going forward.

The Not-So-Quiet Before the Real ETF Storm

Late Tuesday afternoon brought a shocking shake-up as the official X account for the Securities and Exchange Commission was hacked. A false ETF approval announcement hit the internet, and within moments, the price of Bitcoin spiked.

By Wednesday, those naysayers were using this as yet another reason why crypto can’t be trusted. That’s why I jumped in to reassure you our outlook hadn’t changed and why. I also gave three ways you can avoid giving in to any market uncertainty.

5 Long-Term Benefits of Bitcoin’s ETF Approval for NFTs

While Bitcoin is the primary beneficiary of the ETF approvals, it’s not the only one. The broad market is set to ride Bitcoin’s coattails as the ETF brings legitimization and a wave of new that’ll permeate every sector. Jurica focused on NFTs in particular, outlining five ways he expects the space to develop going forward.

The Shape of Things to Come in 2024

Juan wraps up our week by breaking down what we can expect for Bitcoin in a post-spot ETF market. And he goes further to explain why this isn’t the finish line — it’s the start of a brand-new marathon. One we can expect big things from in this bull market.

That’s why he also recommends watching his Crypto Convergence briefing before it goes offline. In it, he lists three altcoins you may want to consider for this bull run. And with Bitcoin likely looking at an overdue correction, these could be the lowest prices for a while.

That’s all for this week. Look to your inbox tomorrow at the regular time for your next Weiss Crypto Daily issue.


Beth Canova

About the Contributor

Beth Canova is a veteran of the publishing industry, specializing in cryptocurrency-related information and guidance. As the Managing Editor of some of world’s most astute cryptocurrency experts — Juan Villaverde, Dr. Bruce Ng, Marija Matić and others — she's continually immersed, and well versed, on everything crypto.

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