With anticipation of an approved spot Bitcoin ETF reaching fever pitch levels in the opening days of 2024, frenzied discourse on the subject has now settled around one question: Is it already priced in? 

Some in crypto think the answer’s yes. It’s been over two months of non-stop gains for BTC, fueled almost entirely by excitement surrounding a Bitcoin ETF’s imminent approval. At this point, with the cryptocurrency at near-double its price in October, how much more juice could possibly be left to squeeze?

But many diehard Bitcoin advocates are emphatic that the event hasn’t been priced in—meaning that, in their opinion, BTC is poised to rocket even further upwards if and when a Bitcoin ETF is approved in coming weeks. 

A Bitcoin ETF would at long last give traditional retail investors an easy way to gain exposure to BTC—no crypto exchanges or wallets needed. But the SEC has rejected every proposal for such a product over the last 10 years, pointing to the potential for market manipulation in Bitcoin as its primary reason. But that was then and BlackRock is now—and the Wall Street titan’s entry into the Bitcoin ETF race means it’s finally going to happen, most analysts say.

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Author: Sander Lutz

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