Bitcoin price will rocket to $141k in case of ETF approval as BTCETF token raises over $1.3M

A new report from CoinShares has suggested that Bitcoin (BTC) might experience significant growth if a much-anticipated spot BTC ETF gains approval in the US.

The report speculates that Bitcoin’s price could reach as high as $141,000 if regulators approve an ETF backed by physical BTC.

Amid growing anticipation for a potential spot BTC ETF, a new token named Bitcoin ETF Token (BTCETF) has raised over $1.3 million in its presale, attracting investors keen to gain exposure to the hype.

CoinShares report says spot Bitcoin ETF could attract $14bn in investment

Building on the speculation that a spot BTC ETF could propel demand, a new report from CoinShares predicts dramatic gains for Bitcoin.

Their research finds that the approval of such an ETF could attract a whopping $14.4 billion in investment into Bitcoin within the first year of its operation.

As BlackRock, the world’s largest asset manager, progresses towards securing regulatory approval, the possibility of these significant inflows appears to be growing.
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The report outlines that if even a fraction of BlackRock’s $10 trillion assets under management (AUM) flowed into Bitcoin, it would be enough to push prices sky-high.

Specifically, CoinShares’ report estimates that a 1% allocation from 10% of US-addressable assets would be enough to drive Bitcoin to $141,000 by the end of 2025.

And under more optimistic assumptions, as much as $31.3 billion could pour into BTC, pushing the price to a staggering $265,000 – more than a 624% increase from today’s value.

Grayscale & BlackRock Inch Closer to Bitcoin ETF Approval

Adding to the buzz, after months of anticipation, Grayscale Investments recently met with officials from the SEC to discuss its application to convert the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF.

This meeting came after a court order required the SEC to formally review Grayscale’s bid, following a judicial finding that the regulator lacked a reasonable basis to reject the ETF.

With Grayscale now cleared to utilize a shorter filing, the path ahead looks promising.

If approved, Grayscale intends to list shares of its Bitcoin Trust on NYSE Arca under the ticker GBTC.

Although the SEC recently let another deadline for spot BTC ETF approvals pass, many analysts speculate that the regulator might give the green light to one of these funds in early 2024.

With major entities like Grayscale and BlackRock now in the race, the SEC faces enormous pressure to end its resistance – which could result in considerable demand for Bitcoin.

New token BTCETF takes advantage of ETF hype as presale raises $1.3m

As speculation mounts around an imminent spot Bitcoin ETF approval, a new token has emerged aiming to ride the wave of hype.

Named Bitcoin ETF Token (BTCETF), the project has already raised over $1.3 million in its presale phase.

This ERC-20 token aims to benefit from milestones in the spot ETF application process, planning to burn 25% of its total supply in five stages based on key developments.
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The final 5% burn depends on Bitcoin itself hitting the $100,000 price point, which will see the total BTCETF supply drop to 1.575 billion tokens.

Besides these deflationary token burns, BTCETF imposes a 5% tax on all transactions, with these tokens also being removed from circulation.

Given that its mechanics are closely tied to the success of a spot BTC ETF, Bitcoin ETF Token presents an opportunity for investors to engage with this evolving narrative.

Due to this setup, the project’s presale has quickly gained traction, with the current price of BTCETF token set for $0.0056 during the current stage.

The token successfully passed a smart contract audit from Coinsult and was recognitised on popular market tracker CoinSniper.

This has sparked attention from the community - the BTCETF token has a solid chance to become a subject of interest in the final weeks of 2023.


Thanks for this news bro


That what we all hope for


What’s the effect of non approval of the ETF then?


I think this is quite possible. We are waiting for halving


Another achievement for crypto

You are welcome to the community APTOS

buy the rumor sell the news

Bearing fruits