As more big companies start using Bitcoin, the cryptocurrency market is getting even busier. This is one of the reasons why the price of Bitcoin has been going up lately.
Several experts think that the first Bitcoin exchange-traded fund (ETF) listed in the U. S will be available in just a few weeks.
In a recent interview, Bakkt’s Chief Product Officer, Daniel O’Prey, said the company is focusing on the institutional side and thinking about Bitcoin ETFs.
He said that regular people are investing more because the price of Bitcoin went up and people are guessing about its future. O’Prey thinks that more big investors are starting to feel comfortable and come back to the market. This could be good for smaller investors who normally wouldn’t be able to invest in a safe and easy way.
“More companies will be able to invest in this area as the infrastructure gets better and is ready for bigger businesses to use. ” “These will go up a lot over the next year. ”
Many experts think the SEC will approve a BTC ETF in January, but O’Prey is more cautious. He says it’s hard to predict, but he thinks it will happen sometime next year.
O’Prey thinks that if the spot ETF gets approved and the Bitcoin halving happens, it might cause people to sell their Bitcoin.
He also said that when the spot ETF starts, there will be a big increase in the following months and people will make money from it. However, he said he believed that in the near future and beyond, “this will have a mostly good effect. ”
O’Prey also said that the upcoming Bitcoin halving is a known and expected event that could lead to people selling their Bitcoin after it happens.
“I think there will be a lot of ups and downs because of the money and the halving, but in the next few months, it will probably cause growth and more people wanting it. ”
This is not advice on where to put your money.