Large Asset Managers Getting Ready to Buy BTC Ahead of Spot Bitcoin ETF Launches, Says Moody’s Director

A elder manager with Moody’s Analytics has highlighted the biggest operator down the caller bitcoin terms surge. “The contention is heating up” to motorboat spot bitcoin exchange-traded funds (ETFs), helium explained, emphasizing that ample plus managers are “getting acceptable to get the underlying plus to connection the ETF to retail and organization investors.”

Biggest Driver Behind Bitcoin Price Surge

Yiannis Giokas, a elder manager with Moody’s Analytics, has provided insights into the factors down the caller surge successful bitcoin’s price, highlighting the anticipated support of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). Moody’s Analytics is simply a subsidiary of Moody’s Corp. that focuses connected non-rating activities.

“The biggest operator down the surge successful bitcoin terms is apt the fig of applications for spot BTC ETF which are expected to beryllium approved by the SEC January,” the manager said successful an email to Bitcoin News. He added:

The contention is heating up to motorboat these vehicles with ample plus managers getting acceptable to get the underlying plus to connection the ETF to retail and organization investors.

Bloomberg has predicted a 90% accidental of the SEC approving spot bitcoin ETFs by Jan. 10. The securities regulator has been gathering with exchanges and spot bitcoin ETF issuers, including Blackrock, Ark Invest, and Grayscale Investments, to sermon their applications.

Skybridge Capital laminitis Anthony Scaramucci anticipates massive superior inflow from Wall Street into BTC erstwhile spot bitcoin ETFs launch. Former NYSE President Tom Farley likewise expects wealth to flood into the crypto manufacture with the support of spot bitcoin ETFs. Ric Edelman said past week that financial advisors are waiting for the SEC to o.k. spot bitcoin ETFs truthful that they tin connection these investments to their clients. JPMorgan, connected the different hand, has warned that spot bitcoin ETFs could enactment “severe downward unit connected bitcoin prices.”

What bash you deliberation astir the statements by the Moody’s Analytics manager regarding spot bitcoin ETFs? Let america cognize successful the comments conception below.