JPMorgan: SEC Approval of Spot Bitcoin ETF Unlikely To Be A Game Changer

• A JPMorgan strategist believes that SEC support for a spot Bitcoin ETF won’t beryllium a crippled changer. 
• The banking elephantine has argued that akin products person existed successful Canada and Europe. 
• The strategist pointed retired that Bitcoin funds person attracted small involvement from investors implicit the past 2 years. 
• JPMorgan’s study acknowledged that spot BTC ETFs would bring much liquidity and transparency to BTC markets. 

Wall Street elephantine JPMorgan believes that a spot Bitcoin ETF successful the United States won’t person the interaction that the crypto and TradFi communities judge it will. According to a JPMorgan strategist, the Securities and Exchange Commission’s seal of support for firms successful the U.S. to connection spot BTC ETFs is improbable to beryllium a crippled changer for the crypto market. 

Spot Bitcoin ETFs Would Add Liquidity And Price Transparency

According to a study by Bloomberg, JPMorgan strategist Nikolaos Panigirtzoglou stated successful a enactment earlier contiguous that the SEC’s support for a spot BTC ETF is improbable to beryllium a crippled changer. The strategist pointed retired that akin products person been offered successful European and Canadian markets for years and person failed to pull important investment. The strategist believes that the optimism and hype astir specified an exchange-traded money volition get a world cheque erstwhile it hits the American crypto market. 

Bitcoin funds overall, including futures-based and physically backed funds, person attracted small capitalist involvement since Q2 2021, besides failing to payment from capitalist outflows from golden ETFs implicit the past twelvemonth oregon so.”

That being said, Panigirtzoglou acknowledged the advantages of having a spot Bitcoin ETF successful the U.S. crypto market, adding that physically backed funds offered greater opportunities than futures-based funds. The enactment from the JPMorgan strategist added that spot ETFs would connection much nonstop and unafraid vulnerability to Bitcoin by addressing issues surrounding custody. He added that spot ETFs would beryllium a much close reflection of real-time supply, and bring much liquidity and heighten terms transparency successful spot bitcoin markets.