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Crypto market ‘dramatically underestimates’ bullishness of spot Bitcoin ETFs

Published 09/05/2023, 08:36 PM
Updated 09/05/2023, 10:20 PM
© Reuters.

The potential of a spot Bitcoin (BTC) exchange-traded fund (ETF) approval to drive prices up is dramatically underestimated by the crypto market, claim analysts from crypto research firm K33 — formerly Arcane Research.

In a Sept. 5 market report, K33 senior analyst Vetle Lunde and vice president Anders Helseth said the last three months had greatly improved the chances of a spot Bitcoin ETF approval despite the sentiment not being reflected in the price of Bitcoin or other mainstay crypto assets.

Bitcoin returned its gains in the wake of Grayscale's victory. Source: K33 Research

ETH set to outperform BTC

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