Bitcoin ETF postponed… Again, but it will eventually be approved

The Bitcoin ETF has once again been postponed as everyone thought it would be. However, this time I do not think it will have such a negative effect on the market as last time because everyone expected this to happen and it is already priced into the current price. There are other financial instruments such as the one that Fidelity will introduce and Coinbase custody will attract other institutional money and more financial products so Bitcoin may not be dependent on an ETF in the future. The SEC also opened up to comments about the ETF and has received more than 1400 of them, almost all were in support of the Bitcoin ETF ranging from comments such as “you should approve” to an explanation why it is an important technology for the future. There is at least 1 commissioner and probably 2 that are in favor of the Bitcoin ETF. All this adds up to the eventual approval of the Bitcoin ETF within the next year.

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